Obama: If GOP wins, they will try to kill Social Security

Some Republican leaders in Congress are “pushing to make privatizing Social Security a key part of their legislative agenda if they win a majority in Congress this fall,” Obama said.

He called that “an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders”.

Source:
http://rawstory.com/rs/2010/0814/obama-gop-retakes-congress-seek-destroy-social-security/

 

Dean Baker: America Speaks Back: Derailing the Drive to Cut

Pete Peterson-funded America Speaks will be hosting 20 meetings, asking people to come up with proposals for the budget deficit.

The way the problem is outlined guarantees that most opt for big cuts to Social Security and Medicare. The results of this song-and-dance exercise will then be presented to Pres. Obama’s fiscal responsibility commission.

Source:
http://www.huffingtonpost.com/dean-baker/america-speaks-back-derai_b_619465.html

 

Social Security to start cashing Uncle Sam’s IOUs

The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.

This will cause the deficit, and therefore the debt as well, to increase even faster.

Source:
http://news.yahoo.com/s/ap/us_social_security_ious