Katrina vanden Heuvel: Social Security Cuts Punish Main Street for Wall Street’s Crimes

Katrina vanden Heuvel: Social Security Cuts Punish Main Street for Wall Street’s Crimes

Katrina vanden Heuvel: Social Security Cuts Punish Main Street for Wall Street’s Crimes

Barack Obama's expected budget proposal will slash payments for ordinary Americans in the name of deficit reduction.

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In his budget plan next week, President Barack Obama is expected to propose a new inflation formula that would reduce cost-of-living payments for social security benefits. This proposal would punish average Americans for the financial woes brought on by risky investment practices and too-big-to-fail banks, charging them for a prosperity they never really shared in, said Katrina vanden Heuvel on C-SPAN's Washington Journal on Friday.

Vanden Heuvel touched on a wide range of issues, from social security to immigration to campaign finance. She said that the social security cut is just the latest victim of a "misplaced obsession with debt and deficits."

—Alec Luhn

Read the article Katrina recommended during the show, Lee Fang's piece on how corporations lie about their political contributions.
 

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Onward,

Katrina vanden Heuvel
Editor and Publisher, The Nation

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