Deficit Commission

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Obama and the Senate Democrats Will Eliminate Social Security - Parts I and II

  • Posted on: 3 October 2010
  • By: MichaelCollins


Internet poster Jonathyn over at The Agonist came up with the most innovative and probably accurate explanation of the Democrats plans for social security. He asked the question, why aren't the Democrats making threats to Social Security the centerpiece of their congressional campaigns? The answer is as enlightening as Sherlock Holmes observation about the dog that didn't bark. If they're going to blow up Social Security in the lame duck session of Congress by endorsing Obama's Deficit Reduction Commission, there's a real risk to campaigning on saving the program. Can they be this vile? Are they this stupid? - Michael Collins (Reprinted with the permission of the author.)

"There Is No Economic Justification for Deficit Reduction" Galbraith to Deficit Commission

  • Posted on: 10 September 2010
  • By: MichaelCollins

Posted by Michael Collins

Your proceedings are clouded by illegitimacy.

The conclusion to be drawn is that Social Security should in any event be off the agenda of your Commission, as it is a transfer program and not a program of public spending in the economic sense. In particular it does not use capital resources and will not drive up interest rates. This is true whether the "Social Security System" is in internal balance or not.