Devil is in the Details
While the bipartisan effort of the 3 democrats and 3 republicans making up the Gang of Six is a great start, what does it mean?
According to Senator Bernie Sanders, (VT), the draft outline of the plan talks about cutting the deficit, but it vaguely talks about getting revenue. Sanders claims there are no current mechanisms that clearly state what and how revenues will be brought in. Lots of info. about cuts, not so much on the revenue portion.
Social Security has nothing to do with the deficit because as Senator Sanders states, “social security is funded by the payroll tax, not the federal treasury.” Yet, for some strange reason the Republicans and Democrats and President Obama are allowing social security to be on the chopping block. Sanders states that democrats need to stand up to their promises to protect social security. Will they?
Sanders stated on the floor of the U.S. Senate that the Gang of Six Plan “will be a disaster for working families in this country, for the elderly, for the sick, for the children and for low income people.”
Senator Sanders stated before the Senate on July 20, 2011, “Social Security has been an extraordinary success in our country. For 75 years with such volatility in the economy, social security has paid out every nickel owed to every eligible American.”
“Social Security has a $2.6 trillion dollar surplus today and can pay out every benefit owed to every eligible American for the next 25 years!”
Sanders warns all Americans that the Gang of Six Plan would create major cuts in Social Security. He said Social Security Cuts would go into effect by 2012.
“That means that 10 years from now, the typical 75 year old person will see their social security benefits cut by $560/year, and the average 85 yr. old citizen will see a cut by $1000/yr.”
Sanders states that there will be massive cuts in Medicare of $300 billion over 10 year period if the Gang of Six Plan is implemented.
Game of Chicken in the Congress
In one type of game of chicken, two people race their cars towards a cliff. The one who veres away first is considered “chicken.” However, it is a very high stakes game and both people could lose their lives if they are so ego-driven that they want to win so bad.
Is that what is happening in Congress now? Is there a high stakes game of chicken with our economic health which could affect the entire world economy?
Sanders said we need to fight for a “fair deal” for the American people.