Wednesday, March 30, 2011

(Extended) Quote of the Day: Grieder's four facts

William Grieder lists four facts the press refuses to report about Social Security:

Opponents of Social Security are deliberately confusing Social Security with Medicare; they are distorting reality. There are simple facts that should be reported: 1) Social Security never contributed a dime to the deficit; 2) Social Security softened the impact of the Reagan deficits by building up a surplus; 3) the federal government borrowed the money and spent it on other things; 4) the federal government has to pay this money back because it really belongs to the working people who paid their FICA deductions every pay day. The elites in both parties know the day is approaching when the federal government has to come up with the trillions it borrowed from the workers. That is the crisis the politicians don’t want to deal with, so they create a phony argument that slyly blames working people for their problem. That’s the propaganda they want the public to believe.

(Emphasis added. H/t to Batocchio's characteristically thorough post on the topic. The full CJR interview with Grieder is going in the long-neglected p3 Readings list.)

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