The Commission for Fiscal Responsibility and Reform, better known as the “Cat Food Commission” has targeted Social Security and Medicare for some serious reductions that will put many senior citizens and future senior citizens in jeopardy of being relegated to homeless shelters or the streets. Sound harsh, over the top? Well listen to the co-chair former Sen. Alan Simpson, who was hand picked by President Barack Obama, in the video below the fold. And how about Speaker of the House, Nancy Pelosi who purposely put a “requirement that the House will vote on the deficit commission’s recommendations in the lame duck session if they pass the Senate“?
(transcript for the hearing impaired is in this link)
Cutting Social Security and Medicare is how Sen. Simpson thinks the US can obtain fiscal responsibly works and his co-chair, Investment banker and former Clinton chief of Staff Erskine Bowles, who negotiated Social Security cuts with Newt Gingrich, now wants to do it again.
Although the commission is composed of 10 Democrats and 8 Republicans and the final report will need a super majority of 14 to pass, most of the members are Wall St. fiscal conservatives to whom Obama and Congress have catered.
Warnings from both House Majority and Minority leaders, Rep. John Conyers and John Boehner, that the final report will be presented to a lame duck Congress were ignored by Obama, Reid and Pelosi who are determined to bring whatever this commission decides to a vote by the end of the year. Now Pelosi has sealed the deal by slipping in the provision into the War Funding bill that requires the House to vote on whatever the Senates passes.
This Presidential Commission, which is also proposing tax hikes beyond the increases in 2011 when the Bush tax cuts expire, is selling out the middle class who is virtually up that “shitty” creek without a paddle and can’t afford to buy a paddle.
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that Simpson is wrong, it’s his rude and condescending attitude that gets my goat.
Medicare has an immediate problem that will likely require increased payroll tax, but Social Security is not in dire straights. The receipts are down because of the high unemployment: Fix that and it is still in the black.
here. I suppose it is foolish to wonder why Mr. Obama is so enthralled with Simpson.