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Blame Liberal Groups for Social Security Crisis

May 13, 2009

FDR’s proudest accomplishment, the national Ponzi scheme known as Social Security, is significantly closer to collapse than it was last year — and liberal groups have a lot to do with this fact, but more on that in a moment.

The old-age entitlement program reported that its costs will exceed tax revenues in 2016, one year sooner than projected in last year’s report. The Old-Age and Survivors and Disability Insurance (OASDI) Trust Funds will be exhausted in 2037, four years sooner than projected last year. “Over the 75-year period, the Trust Funds would require additional revenue equivalent to $5.3 trillion in today’s dollars to pay all scheduled benefits,” according to the program’s board of trustees.

“The worsening of the long-range outlook for the Social Security program is due primarily to the recent economic downturn and faster reductions in mortality than previously assumed,” said the trustees.

But the trustees left out an important fact: liberal activism has helped to bring Social Security to the brink.

In 2005 as the defeat of President George W. Bush’s campaign to reform Social Security, the so-called third rail of American politics, drew nearer, liberal groups savored their approaching victory. “We’re putting the power back into the third rail,” gloated Toby Chauduri, a spokesman for the Campaign for America’s Future (a George Soros-funded organization that supports increased taxes to pay for an ever-growing number of social welfare programs).

Social Security has not been reformed because politicians lack the political will to take action. And why do they lack the will to act? In part because they have been urged not to take action by left-wing groups opposed to putting Social Security on a sound financial footing.

Some of the key liberal groups that have fought Social Security reform tooth and nail are the AFL-CIO, AARP, AFSCME, Campaign for America’s Future (CAF), CAF affiliate Institute for America’s Future, International Brotherhood of Teamsters, (which has, according to its director, “bought” the Democratic Party), and USAction (whose president supported the official newspaper of the Communist Party USA).

Remember that during the Bush-era fight in Congress, the AFL-CIO, mindful that many investment firms managed labor-controlled pension fund assets, suddenly decided that protecting Social Security was Big Labor’s “fiduciary duty.”

The New York City Employees’ Retirement System wrote threatening letters to investment houses warning that if they backed major changes to the program, labor would take their position into consideration when deciding whether the firms would continue to manage the assets of union pension funds. Translation: Support Social Security reform and lose some huge clients. Labor officials also launched a PR offensive against the firms in the media to make sure they didn’t back reform.

So, never forget how Social Security got to where it is now.

  1. Slim permalink
    May 16, 2009 7:13 am

    As a SS benefiter, having contributed since 1957, I can say the system could be a lot better. Over the years, it has degenerated into a Give Away to all comers. Everyday the ads feature Law firms, Garanteeing access to “your Deserved Money”…
    I fully understand the money will stop flowing, sooner than later. I have made my preparations in advance. Sad to say, I have folks that still believe in the sanctity of the system, and yes, folks that take advantage of the system.

  2. July 24, 2009 12:02 pm

    I am on Social Security and I worked for it and reserved money for this. NOT THEY LET ILLEGALS COME IN AND SHARE IN WHAT I AND ALL OF US HAD WORKED HARD FOR. I resent this and feel we need to rise up and make our VOICES and VOTES known.
    What some people do not seem to understand is a canidate can say anything, but HE CAN NOT GO AGAINST THE “PARTY PLANKS”. If the canidate is against abortion, but the Party Plank is listed as being for it, he has to go along with that.
    OBAMA we don’t like your CHANGE or your LIES.
    People wake up for goodness sake and do something!!!! I am….

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