Obama's New Ad Could Help Kill Social Security




(Obama supporters please read the last paragraph of this post.)
For decades the right has been trying to kill Social Security. They have spread the lie that it is a "ponzi scheme" that depends on workers paying in today to pay for current benefits. Barack Obama is running a new ad that reinforces that lie.
Here is the fact: For decades Social Security has been collecting MUCH MORE $$ than it has been paying out. This money is saved in a "trust fund." This trust fund is large enough to cover any "shortfall" that occurs when the baby boomers retire.
But starting with Reagan, and especially under Bush, this trust fund was used to pay for the Republican tax cuts for the rich. (This is what Gore was talking about when he said this money should go in a "lockbox.")
Now that the baby boomers are starting to retire Social Security will need to tap into this trust fund to pay their retirement. It's their money but the money is not there -- taken by the Republicans to pay for their tax cuts.
So what is fair? Cutting old people's benefits to cover they money that was taken by the Republicans to give to the rich? Taking more from working people's paychecks to ocver what the Republicans took? Or taxing the rich to cover the money that was given to the rich? Which is fair?
And, most of all, how is this Social Security's problem? How is it Social Security's problem that the conservatives owe Social Security all that money?
With that in mind, watch Obama's commercial, in which he is talking about Social Security's problem entirely in right-wing terms:
Posted October 29, 2007 | 06:44 PM (EST)