HOME



Digby's Hullabaloo
2801 Ocean Park Blvd.
Box 157
Santa Monica, Ca 90405














Infomania

Buzzflash
Cursor
Raw Story
Salon
Slate
Prospect
New Republic
Common Dreams
AmericanPoliticsJournal
Smirking Chimp
Crisis Papers



MediA-Go-Go

BagNewsNotes
Crooks and Liars
CJR Daily
consortium news
Scoobie Davis




Blog-o-rama

Eschaton
Demosthenes
Political Animal
Driftglass
Firedoglake
oilprice.com
Taylor Marsh
Spocko's Brain
Talk Left
Suburban Guerrilla
Paperweight's Fair Shot
corrente
Pacific Views
Echidne
TAPPED
Talking Points Memo
pandagon
Daily Kos
MyDD
Electrolite
Americablog
Tom Tomorrow
Left Coaster
Angry Bear
Rooks Rant
The Poorman
Seeing the Forest
Cathie From Canada
Frontier River Guides
Brad DeLong
The Sideshow
Liberal Oasis
BartCop
Juan Cole
Mark Kleiman
Rising Hegemon
alicublog
Unqualified Offerings
Mad Kane
Blah3.com
Alas, A Blog
Fanatical Apathy
RogerAiles
Lean Left
Oliver Willis
Ruminate This
skippy the bush kangaroo
Slacktivist
uggabugga
Crooked Timber
discourse.net
Amygdala
the talking dog
David E's Fablog
Nitpicker
The Agonist


email address:
digbysez at gmail dot com
isnospoon at gmail dot com

01/01/2003 - 02/01/2003 02/01/2003 - 03/01/2003 03/01/2003 - 04/01/2003 04/01/2003 - 05/01/2003 05/01/2003 - 06/01/2003 06/01/2003 - 07/01/2003 07/01/2003 - 08/01/2003 08/01/2003 - 09/01/2003 09/01/2003 - 10/01/2003 10/01/2003 - 11/01/2003 11/01/2003 - 12/01/2003 12/01/2003 - 01/01/2004 01/01/2004 - 02/01/2004 02/01/2004 - 03/01/2004 03/01/2004 - 04/01/2004 04/01/2004 - 05/01/2004 05/01/2004 - 06/01/2004 06/01/2004 - 07/01/2004 07/01/2004 - 08/01/2004 08/01/2004 - 09/01/2004 09/01/2004 - 10/01/2004 10/01/2004 - 11/01/2004 11/01/2004 - 12/01/2004 12/01/2004 - 01/01/2005 01/01/2005 - 02/01/2005 02/01/2005 - 03/01/2005 03/01/2005 - 04/01/2005 04/01/2005 - 05/01/2005 05/01/2005 - 06/01/2005 06/01/2005 - 07/01/2005 07/01/2005 - 08/01/2005 08/01/2005 - 09/01/2005 09/01/2005 - 10/01/2005 10/01/2005 - 11/01/2005 11/01/2005 - 12/01/2005 12/01/2005 - 01/01/2006 01/01/2006 - 02/01/2006 02/01/2006 - 03/01/2006 03/01/2006 - 04/01/2006 04/01/2006 - 05/01/2006 05/01/2006 - 06/01/2006 06/01/2006 - 07/01/2006 07/01/2006 - 08/01/2006 08/01/2006 - 09/01/2006 09/01/2006 - 10/01/2006 10/01/2006 - 11/01/2006 11/01/2006 - 12/01/2006 12/01/2006 - 01/01/2007 01/01/2007 - 02/01/2007 02/01/2007 - 03/01/2007 03/01/2007 - 04/01/2007 04/01/2007 - 05/01/2007 05/01/2007 - 06/01/2007 06/01/2007 - 07/01/2007 07/01/2007 - 08/01/2007 08/01/2007 - 09/01/2007 09/01/2007 - 10/01/2007 10/01/2007 - 11/01/2007 11/01/2007 - 12/01/2007 12/01/2007 - 01/01/2008 01/01/2008 - 02/01/2008 02/01/2008 - 03/01/2008 03/01/2008 - 04/01/2008 04/01/2008 - 05/01/2008 05/01/2008 - 06/01/2008 06/01/2008 - 07/01/2008 07/01/2008 - 08/01/2008 08/01/2008 - 09/01/2008 09/01/2008 - 10/01/2008 10/01/2008 - 11/01/2008 11/01/2008 - 12/01/2008 12/01/2008 - 01/01/2009 01/01/2009 - 02/01/2009 02/01/2009 - 03/01/2009 03/01/2009 - 04/01/2009 04/01/2009 - 05/01/2009 05/01/2009 - 06/01/2009 06/01/2009 - 07/01/2009 07/01/2009 - 08/01/2009 08/01/2009 - 09/01/2009 09/01/2009 - 10/01/2009 10/01/2009 - 11/01/2009 11/01/2009 - 12/01/2009 12/01/2009 - 01/01/2010 01/01/2010 - 02/01/2010 02/01/2010 - 03/01/2010 03/01/2010 - 04/01/2010 04/01/2010 - 05/01/2010 05/01/2010 - 06/01/2010 06/01/2010 - 07/01/2010 07/01/2010 - 08/01/2010 08/01/2010 - 09/01/2010 09/01/2010 - 10/01/2010 10/01/2010 - 11/01/2010 11/01/2010 - 12/01/2010 12/01/2010 - 01/01/2011 01/01/2011 - 02/01/2011 02/01/2011 - 03/01/2011 03/01/2011 - 04/01/2011 04/01/2011 - 05/01/2011 05/01/2011 - 06/01/2011 06/01/2011 - 07/01/2011 07/01/2011 - 08/01/2011 08/01/2011 - 09/01/2011 09/01/2011 - 10/01/2011 10/01/2011 - 11/01/2011 11/01/2011 - 12/01/2011 12/01/2011 - 01/01/2012 01/01/2012 - 02/01/2012 02/01/2012 - 03/01/2012 03/01/2012 - 04/01/2012 04/01/2012 - 05/01/2012 05/01/2012 - 06/01/2012 06/01/2012 - 07/01/2012 07/01/2012 - 08/01/2012 08/01/2012 - 09/01/2012 09/01/2012 - 10/01/2012 10/01/2012 - 11/01/2012 11/01/2012 - 12/01/2012 12/01/2012 - 01/01/2013 01/01/2013 - 02/01/2013 02/01/2013 - 03/01/2013 03/01/2013 - 04/01/2013 04/01/2013 - 05/01/2013 05/01/2013 - 06/01/2013 06/01/2013 - 07/01/2013 07/01/2013 - 08/01/2013 08/01/2013 - 09/01/2013 09/01/2013 - 10/01/2013 10/01/2013 - 11/01/2013 11/01/2013 - 12/01/2013 12/01/2013 - 01/01/2014 01/01/2014 - 02/01/2014 02/01/2014 - 03/01/2014 03/01/2014 - 04/01/2014 04/01/2014 - 05/01/2014


 

This page is powered by Blogger. Isn't yours?

Hullabaloo


Thursday, December 26, 2013

 
And therein lies a whole new Social Security debate

by digby

The Wall Street Journal reports a tear in the matrix:
Elizabeth Warren is telling us something important: The politics surrounding Social Security are shifting... [and] it signals an important longer-term change in the political forces behind the debate on Social Security, and perhaps other entitlements as well. The rising focus on income inequality, reduced concern about federal deficits, the effect of the recession on baby-boomer finances and the aging of the Republican Party all are subtly shifting the ground beneath the discussion.

Ms. Warren gave voice to this new phase when she took to the Senate floor recently with a speech calling head-on for higher Social Security benefits. "Seniors have worked their entire lives and have paid into the system, but right now, more people than ever are on the edge of financial disaster once they retire—and the numbers continue to get worse," she said. "That is why we should be talking about expanding Social Security benefits—not cutting them."

As that reference to retirees on the "edge of financial disaster" indicates, one force driving the argument is the fact that a lot of baby boomers saw their retirement cushions deflated by the financial shock of 2007 and 2008. Research by the Employee Benefit Research Institute shows that the share of workers saving for retirement has declined to 57% now from 64% in 2008—and that the share of workers who have more than $25,000 set aside has declined over the same period to 43% from 51%.

That slide in retirement preparation coincides with a resurgence of concern—to some extent in both parties—about income inequalities in the American economy. The argument that the wealthy have done fine in recovering from the financial shock while others have struggled helps ease the way for benefit-increase proponents to push for a boost in payroll taxes on upper-income Americans to finance higher Social Security benefits.
[...]
But the Committee for a Responsible Budget argues that while modest tax increases may help preserve current benefits, raising them enough to finance higher benefits would be a politically and economically dicey proposition—and have the questionable effect of diverting resources toward the old from the young.

Expanding benefits under current conditions "makes no sense at all," says Maya MacGuineas, the committee's president.

And therein lies a whole new Social Security debate.
Welcome to our turf, Ms MacGuineas.

We haven't been on this side of the argument in some time, but as this column points out, certain realities are beginning to come into focus and the politics are favorable for a push to actually expand the social insurance programs. At the very least we seem to have arrested the drive to cut benefits, which was always a cynical Shock Doctrine style attack born of the financial crisis that should never have been endorsed by any right thinking human being.

But don't get too excited. This battle will be waged again. Whether the economy is "performing" well or in the ditch, the financial elites will always say there is a good reason to degrade the New Deal programs or cut their taxes. Usually both at the same time. But it's just possible that we have managed to shame the neo-liberal members of the Democratic Party a little bit, resulting in them putting their Wall Street benefactors' agenda on the back burner for the moment. Baby steps.















Search Digby!