Stop the Looting of Social Security

Stop the Looting of Social Security

The Nation‘s William Greider warns that if progressives don’t engage with President Obama more, forces advocating for ‘entitlement reform’ will gut social security.

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The resounding defeat of George W. Bush’s effort to privatize Social Security in 2005 seemed to be the end of attacks against the program. However, William Greider argues in The Nation that Wall Street interests are leading a new round of threats to Social Security in a plan to use money from the program to recover the costs of bailing out banks. Although President Obama has indicated support for Social Security in the past, Greider argues that progressives need to exert pressure and educate the public about its solvency in order to counteract the efforts of private interests pushing for a compromise.

Gabriela Resto-Montero

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