Obama Raids Social Security to Pay Bankers

Looting Social Security
The resounding defeat of George W. Bush’s effort to privatize Social Security in 2005 seemed to be the end of attacks against the program. However, William Greider argues that Wall Street interests are leading a new round of threats to Social Security in a plan to use money from the program to recover the costs of bailing out banks.

Although President Obama has indicated support for Social Security in the past, Greider argues that progressives need to exert pressure and educate the public about its solvency in order to counteract the efforts of private interests pushing for a compromise.

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1 Comment

Filed under business, congress, News, obama, politics

One response to “Obama Raids Social Security to Pay Bankers

  1. mlyon01

    For more on this, see “How the Democrats might privatize and cut Social Security” at http://mlyon01.wordpress.com/2009/11/15/how-the-democrats-might-privatize-and-cut-social-security/

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