Bamboozle, Part II
Josh Marshall on the latest Bush bamboozle:All that has happened here is that the president has temporarily bamboozled a few folks in the media by trying to spin phase out. He is calling for steep and growing benefit cuts for everyone in the middle class and he still demands a partial phase-out of Social Security to be replaced by private accounts.
Social Security's support of the poorest Americans is a critical part of what it accomplishes. But Social Security is not poor relief. That is only what the president wants to make it -- in part because, once it is, it is far easier to cut further, since it has no organized political constituency.
Social Security is the sheet anchor of the modern American middle class. It's why working Americans can approach retirement with an assurance of security and a modicum of leisure. It stimulates economic vitality by creating a floor of security that facilitates economic risk-taking in investment and business. It's why parents don't have to shortchange investment in children's education by supporting parents in their old age. It provides economic security to families hit by catastrophe and misfortune in mid-life.
PS give him some money for his fundraiser; I already did.
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