If The Right Gets Its Way, The 'Fiscal Cliff' Will Kill Social Security And Medicare

TBI- A Taxing Matter ^ | 11-22-2012 | Linda McKissack Beale

[blam]

If The Right Gets Its Way, The 'Fiscal Cliff' Will Kill Social Security And Medicare

Linda McKissack Beale
A Taxing Matter
Nov. 22, 2012, 9:52 AM

In several posts recently I have discussed the harmful demands the right is engaging in related to the so-called "fiscal cliff" created by the original Bush tax cuts (set to sunset en masse), the artificial debt ceiling (used by the GOP to exact promises of spending cuts during a recession along with extension of unneeded tax cuts for the rich), and the ill-conceived notion that the U.S. military should continue to be funded at dangerously high levels that (i) ensure that the military-industrial complex will find a war or quasi-war in which to engage their newest toys while (ii) sucking resources from public infrastructure projects and education that are vitally needed to sustain our economy.

See, e.g., The GOP's extortion demands: cut Social Security or we'll shoot; If the Dems got backbone; Is it a fiscal cliff or merely a bump in the road; We face an 'austerity crisis' not a 'fiscal cliff.

A. The Explanation.

At least the national media and a slew of bloggers are beginning to provide some background information to ordinary Americans on just what is driving the national discussion of "fiscal cliffs" and "austerity" demands.

See, e.g., Richard Rubin & Heidi Przybyla, Tax Pledges Confound Math as Obama Seeks Deal with Republicans, Bloomberg.com (Nov. 16, 2012) (noting that "The $607 billion fiscal cliff is the combination of tax increases and spending cuts that will take effect in January if Congress doesn’t act" and characterizing the positions of the parties as follows: "Republicans want to extend expiring tax cuts for all income levels

(snip)

[GeronL]

It’s going to happen no matter what. Blaming the “right” is stupid. The “right” has absolutly NO POWER whatsoever.

[Sooth2222]

There is no more money. If the "fiscal cliff" is passed, there is that "fiscal abyss" right behind it.

[goodnesswins]

It’s NOT a “fiscal cliff”....it’s a SPENDING CLIFF!!!!

[freeangel]

“The “right” has absolutly NO POWER whatsoever”

And certainly no desire to lead.

[GeronL]

yep

[arthurus]

Something is going to kill Social Security and Medicare and Medicaid and a lot of other stuff. The sooner these things die the sooner the economy can rationalize itself. I am not a young kid contemplating being taxed most of my earnings to support a bunch of old folks. I am an old folk. A third of my income is Social Security. I am stuck on Medicare. Kill the ravening beast now. I would rather the deprivation now than watch the impoverishment of my children and grandchildren in order to support an army of high living bureaucrats and, as the raison d’être for the good livings of those bureaucrats, my SS check, while also being progressively impoverished as that SS check declines rapidly in value even as the number on it stays the same. AND that Medicare isn’t going to be worth more than aspirin and hospice after another year or so anyway.

[goodnesswins]

Soc Security and Medicare should have been killed LONG ago...they are merely in the last throes of end stage cancer, having eaten their host....the “host” that thinks it can live on something someone else pays for.

[goodnesswins]

I tried reading your Economic lesson...can’t access it...any tricks?

[dhs12345]

Sounds good. Just give me back the $100K or so that I am my employers paid into it and I'll go my own way.

The truth. If all of us did this, it would definitely go bust. Sort of like a ponzi scheme.

[ClearCase_guy]

Republicans should not make any effort to block Obama’s agenda.

Let’s see where he takes us.

Then we cam tell the world: “Obama did this.”

[Mike Darancette]

Social Security and Medicare are about the only things that the fiscal cliff will not impact.

[mrsmith]

If The Left Gets Its Way, Debt And Recession Will Kill Social Security And Medicare

[marktwain]

In the world view of the left, everything bad is the fault of conservatives, republicans, “the rich” or anyone else but the left.

Everything good is the result of the efforts of the left.

It does not matter what the facts are, the left will find a way to rationalize their actions and blame any bad consequences on the right.

[GenXteacher]

They are being killed by the fact that it is impossible to spend more than you take in forever. Defy the natural laws of economics and mathematics at your peril....

[kingu]

I’m sorry, but wasn’t Obama actually present and voted for extending the tax cuts, voted for the massive overspending, and signed the other legislation as president?

Oh, right, forgot, he’s a black man and mentioning this is racist. It’s all the fault of evil Republicans.

[freekitty]

More lies

[DustyMoment]

Oh goody. Another “Let’s scare old people” story.

Is ANYTHING ever new under the Democrat sun??

[arthurus]

Here are several options:

http://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232 ->Kindle

http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Dstripbooks&field-keywords=economics+inone+lwsson ->book

http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Dstripbooks&field-keywords=economics+inone+lwsson ->on-line PDF

http://steshaw.org/economics-in-one-lesson/preface_new_ed.html ->just on-line

http://www.audible.com/pd?asin=B002V0KK0C&mkwid=s3SEtwpsL&pcrid=17956079889&pmt=b&pkw=_inurl:asin%3D&source_code=GO1DG9019WS113010&gclid=CIe1oaai47MCFQ45nAodqBgAmw -> order audio book

[dalereed]

“Sort of like a ponzi scheme.”

Exactly what it is, I think maybe I got in and will croak before it collapses