March 19, 2013


If the job-killing sequester wasn’t bad enough, Washington is buzzing about the possibility that the President and Congress might replace the sequester with something infinitely worse -- the Grand Swindle -- brought to you by Wall Street billionaire Pete Peterson and his “Fix the Debt” gang, who we exposed in a recent report and cover story in The Nation magazine.
What is he thinking? Workers pay into the Social Security system their entire lives – just to use the word “entitlements” is caving in to the Peterson gang. Two-thirds of folks on Social Security rely on the average check of $1,200 a month for HALF THEIR INCOME. Since the Wall Street meltdown, people need the program more than ever and that includes six million kids who are orphaned or living with family members receiving Social Security.
The elite media calls it a “Grand Bargain,” but what this type of deal would really do is needlessly blow a hole in one of the most successful and treasured programs of the New Deal era.
The deficit, caused by the 2008 Wall Street economic crash, has been cut in half in the last few years and is in steep decline. There is, however, an ongoing jobs crisis -- a terrible, needless crisis condemning older workers to a future largely dependent on Social Security and damaging the lifelong earning potential of young workers. The jobs crisis demands more government spending not less, a simple fact that even Ronald Reagan understood.
Tell Congress that overall budget cuts kill jobs, the bigger the cut the bigger the kill. The sequesters will cost us some 750,000 jobs, but a “Grand Bargain” along the lines of Simpson-Bowles will cost us some 4 million jobs, according to the Economic Policy Institute.
Tell President Obama and Congress, we say no to a Grand Swindle. Priority number one is jobs.
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