Has Obama Created A Social Security 'Death Panel'?

Nieman Watchdog:

President Obama and the leadership in Congress have delegated enormous, unaccountable authority to 18 unrepresentative, inordinately wealthy individuals. The 18 individuals are meeting regularly, in secret, behind closed doors, until safely beyond this year's mid-term election. If they reach agreement, their proposal will be voted on in December by a lame duck Congress, without the benefit of open hearings and deliberations in the pertinent committees and without the opportunity for open debate and amendment on the floors of the House and Senate. Despite the speed and lack of accountability, the legislation will affect, in substantial ways, every man, woman, and child in this nation.

Read the whole story: Nieman Watchdog

Comments

[logic63]

04:28 PM on 05/25/2010

everyone panic and wring your hands and start throwing the president under the bus before you have any facts

[melponeme k]

01:59 AM on 05/25/2010

Its now apparent to me, that our government officials have used practically all our Social Security retirement benefits and can't possibly pay it all back. Its all gone, to war, to banking gangsters and more war. Now they are trying to find any way to shoot the program in the head before the large numbers of baby boomers seek to collect.

[pj-smith]

12:14 PM on 05/22/2010

It's official, I despise this president...wake up my fellow progressives, this guy is worse than bush.

[Carolab]

01:47 AM on 05/25/2010

I'm with you.

IF THEY TOUCH MY SOCIAL SECURITY I WILL PERSONALLY MARCH ON D.C.

[logic63]

04:23 PM on 05/25/2010

fool, THEY have been touching your ss for 20 years and you just realized it?

[scooperss]

12:10 PM on 05/22/2010

"Obama's initiative rests on two falsehoods spread by Peterson's propaganda—the notion that Social Security somehow contributes to the swollen federal deficits and that cutting benefits will address this problem. Obama and his advisers do not say this in so many words, but their rhetoric implies that Social Security is a big source of the deficit problem. Major media promote the same falsehoods. Here is what the media don't tell you: Social Security has accumulated a massive surplus—$2.5 trillion now, rising to $4.3 trillion by 2023. This vast wealth was collected over many years from workers under the Federal Insurance Contributions Act (FICA) to pay in advance for baby boom retirements. The money will cover all benefits until the 2040s—unless Congress double-crosses workers by changing the rules. This nest egg does not belong to the government; it belongs to the people who paid for it. FICA is not a tax but involuntary savings."

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8386732

[Carolab]

01:48 AM on 05/25/2010

This vast wealth was collected over many years from workers under the Federal Insurance Contributions Act (FICA) to pay in advance for baby boom retirements. The money will cover all benefits until the 2040s—unless Congress double-crosses workers by changing the rules. This nest egg does not belong to the government; it belongs to the people who paid for it. FICA is not a tax but involuntary savings."

__________

EXACTLY. THAT IS OUR MONEY!! WE BOOMERS PUT IT THERE.

YOU WILL HAVE TO TAKE IT OVER OUR DE-AD BODIES!

[scooperss]

12:08 PM on 05/22/2010

Goes right along with this plan.

"The Obama Administration’s move to the right is about to give conservatives a victory they could not have anticipated, even under Bush. HUD, under Obama, submitted legislation called PETRA to Congress that would result in the privatization of all public housing in America.

The new owners would charge ten percent above market rates to ......"

http://blog.buzzflash.com/contributors/3216

[Paulo1]

09:13 AM on 05/22/2010

Sure, why not?

Obama has embraced everything from Drill Baby Drill to executive Powers to hold prisoners for life, why not go the whole nine yards and sign up for a Bush era attack on Social Security?

I expect the same old solutions that Republicans pushed under Bush, privatization dressed up with a bit of Democrat means testing. Well, good luck with that Mr. One Term.

[RRoadrunner]

07:36 AM on 05/22/2010

If this is true (capital IF) we've elected the "manchurian" president. I would like to think this is hog wash.

[ChicagoSuz]

05:07 AM on 05/22/2010

It should be done on a sliding scale. Anyone rich enough who doesn't need it should graciously refuse it. That's what I'll do after I win LOTTO... ;-)

[Pierpier]

02:49 AM on 05/22/2010

I've just finished reading the article. The full article not the shortened HP version. It is interesting and intriguing. However, it is pure speculation, bordering conspiracism, expecially when it draws it's conclusions. The author would have acted more professionally by simply reporting the known facts omitting his personal interpretation. But then nobody would probably have published it.
Also I suggest HP introduce a sort of warning:
"author's personal opinion"
Punditry has become a national cancer, I fear the media are not fully aware of this.

[Auduboner]

02:38 PM on 05/22/2010

So Pete Peterson's involvement is mere happenstance?

[loki]

02:43 AM on 05/22/2010

just wonderful. Mr Transparent is doing a Cheney. Where Dick had his energy panel, Obama has his Budget cut panel , all made up of the wealthiest, Greediest, Most Self Centered Narcissistic Old White Men that could be found. Just the people I want deciding my future. By the time they get done, we will be working for pennies a week, with most of that going directly into the panel members pockets. Hurray for democracy. Wish we had it here.

[FatFeline]

02:05 AM on 05/22/2010

Any one under 55 who believes that he or she is going to get retirement income from Social Security is living in a dream world.

[gun1934]

11:07 AM on 05/22/2010

obama is trying to figure out what to do with people over 65--if he could get rid of the 65 year law on ss- and insurance and other things that comes with 65 and older---he thinks his worrys would be over --if he could get the law passed up to 75 away from 65---oh well its change

[gun1934]

11:13 AM on 05/22/2010

theres not that many people lives past 75

[Patriot86]

11:37 AM on 05/22/2010

He can't do it...already those in their 50's are without jobs and medical...his fake committee that no pol would support can suggest all they want....try and touch medicare I dare you.

[pj-smith]

12:13 PM on 05/22/2010

S_C_R_Ew Obama....I paid in to SS, and if I dont get it back, me, and others like me will not think twice, there will be he ll to pay...guaranteed....

[logic63]

04:25 PM on 05/25/2010

don't believe eerything you read on a website. read, investigate, don't be such a tool

[Firbolg]

12:27 AM on 05/22/2010

If Social Security and Medicare solvency is the issue, then tell me how solvent are the Pentagon, DHS, CIA, Israel, NASA and all the other entities funded by the Treasury. And who measures the cost/benefit of a privatized Federal Reserve?

[FatFeline]

02:09 AM on 05/22/2010

Social Security is not supposed to be funded by the Treasury. It is supposed to be funded by the premiums paid working people.

[loki]

02:48 AM on 05/22/2010

SSI would have more in its coffers than it could use IF our government had not been pillaging it to use for other projects and make the budgets appear to be balanced. But, it was a vault of dusty IOU's, what our very own Government decided would not be repaid during the Republicans and W's reign of terror. They had decided that the amount of money stolen, oops, I mean 'borrowed' from SSI was so large, in the trillions in fact, it could not feasibly be repaid without cutting into the military and corporate welfare budgets, so they ruled it would just not be repaid.

[Firbolg]

01:47 PM on 05/22/2010

Zing.
You've put your finger (paw?) right on the solution!
Fund Medicare and Social Security from the Treasury and it will never run out of resources.
Brilliant.

[hey0there]

12:23 AM on 05/22/2010

honestly this administration doesnt listen to either its supporters or detractors

all that matters is pushing their own agenda even if it tears this country to pieces

[its miller time]

12:49 AM on 05/22/2010

What do you want the Administation to hear that they are not hearing?

What in the agenda is tearing this Country apart?

[FatFeline]

02:10 AM on 05/22/2010

The deficit.

[disgruntledprogressives]

11:44 PM on 05/21/2010

Obama has stabbed his supporters in the back once again. It's his SOP.

[Anym]

10:57 PM on 05/21/2010

The Military Industrial Complex and the Wars roll on why the social safety net continues to get gutted.