Friday, November 12, 2010

Shoot the cow with 310 million tits

Debt Commission Member Rejects 'Right-Leaning Plan': "'While I think everyone on the commission agrees that we're on an unsustainable path, we cannot be putting the deficit or the debt on the backs of ordinary people, particularly senior citizens. When we started this commission we said nothing is going to be done to benefits for current beneficiaries. Lo and behold, the proposal by the two co-chairs would lower the cost-of-living adjustment for all beneficiaries, something that would compound over the years to significantly lower the benefit for future beneficiaries. They're talking about raising the retirement age. None of the offsets they talk about would be helping lower income seniors. According to the experts, this proposal would put more elderly people into poverty, not fewer. And that is just a nonstarter."

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