Bernanke starts talking about repealing Social Security and Medicare. Really.
On December 3rd, Ben Bernanke, chairman of the Federal Reserve, testified before the Senate Banking Committee seeking reappointment to his job. They spoke about the economy and Bernanke suggested cutbacks in Social Security and Medicare.
Not a word about making the rich pay more taxes, oh, no, that’s off the table. Just take the money from old people and cripples and such.
He actually had the gall to quote a bank robber.
“Willie Sutton robbed banks because that’s where the money is, as he put it,” Bernanke said. “The money in this case is in entitlements.”
Does this surprise anyone? There’s less money in the economy and they want access to what’s left.
At least since the ’80s we’ve had jobs and factories all going overseas. Everyone who works for a paycheck has seen it get thinner and thinner.
Back in the ’60s your mom didn’t have to work unless she just wanted to; now if both parents don’t work, they’re liable to not make ends meet at all–and maybe not even then.
Unions got busted up or intimidated to where they weren’t very effective in securing higher wages and benefits for their members.
Companies used to promise pensions to their workers upon retirement, and now it barely gets a mention on the news when the pensions disappear.
Welfare got “reformed” to the point that hardly anyone can qualify for it anymore, and no one seemed to give a crap what happened to all those moms and kids that got no longer got any support.
House prices went up…and up…and up…until a $200,000 house started to look cheap and no one in their right mind expected to actually pay off a mortgage on a house in their lifetime.
Health insurance and health care costs seem to go up by the minute, and all our leaders want to do is kiss the shoes of the bastards who are ripping us off.
There’s a difference between wealth and money. You can make money without creating any wealth…just look at anyone working in Wall Street. Do they grow food? Teach kids? Fix cars? Build houses? Clean toilets? Heck no. They’re busy sitting around a big table, passing pieces of paper back and forth to their buddies, changing the numbers here and there, and calling it “making money”.
Anyone that works at a real job is poor, and anyone working a scam is rich.
You can only have so many people in a society “making money” without creating wealth before the wealth starts to dry up. This is what’s been happening for decades. The wealth of our factories are gone. The wealth of a well-fed and well-educated populace is greatly diminished.
The rich in America are busy grabbing the last of whatever money is left that they can lay their hands on now, and welfare reform worked so well, why not go after Social Security and Medicare, too?
There wasn’t much outcry about taking money from kids and mothers in the 90s, especially after the media spent so much energy demonizing welfare mothers on the news. Look for them to do the same thing with Social Security…maybe they’ll put out some propaganda blaming greedy old people for taking those exorbitant checks and ruining our economy. (Curiously, all the people in the news stories will be black.)
Or maybe they’ll just take the durn money from Social Security and Medicare in broad daylight and not even make a pretense of caring what the American people think. It certainly didn’t matter to them how pissed off we were about the Wall Street bailouts.
Picture that little top-hatted capitalist guy from the Monopoly board, lighting his cigar with your dollar bill, thinking: yeah, go ahead and protest, you guys. Good luck with that.
In the article I’ve linked to here, the Democratic Congressman from Rhode Island, Sen. Jack Reed suggested to Bernanke that since there was a lot of money at the very top of the income ladder, perhaps Congress should tax that money.
Sen. Bernie Sanders from Vermont, an Independent, didn’t mince any words when he heard about it. “Bernanke wants to cut entitlement spending? Well, that confirms everything I’m saying,” he said.
“The CEOs and top people on Wall Street make huge bonuses, and what? We’re going to cut back on Social Security and Medicare? That’s what we’re going to do?”
“That’s the solution? To cut back on the middle class and the elderly? That only adds fuel to the fire.”
I suspect that even if they did totally repeal Social Security and Medicare tomorrow, that money wouldn’t last them very long or help the economy. It would just get eaten up by the same greedy pigs that are feeding at the government trough now.
Remember, when they wanted to reform welfare, they pretended that it would help fix the deficit somehow, and yet looking back it made no perceptible difference to the deficit or the economy. It certainly didn’t do anything to create wealth in America–it didn’t bring back any factories, it didn’t raise any wages, and it created a whole lot of really desperate poor people.
So now I suppose they’re ready to have lots of dying desperate old people around, too. And Sarah Palin was worried about death panels! Who needs a death panel to ration health care to the elderly when you can just shove their asses out the door in the cold with no money?