Michael Lind, in today’s Salon article, The GOP’s bad old ideas, rightly skewers the suggestions of Congressman Paul Ryan, the Republican’s leader on the House Budget Committee, regarding Social Security:
In domestic policy, Paul Ryan, R-Wis., the ranking Republican on the House Budget Committee, recently unveiled an alternative budget that would deal with the long-term deficit problem (about half of which was caused by Bush’s and the Republican Congress’s wars and tax cuts) by privatizing Social Security and turning Medicare into a voucher system.
As Michael Myers’ Doctor Evil might say: …….R….r……r…..right.
That’s what Americans are demanding, Rep. Ryan. Millions of Americans are not content to have lost much or all of their 401K and other private retirement savings in the stock market in the last decade, with nothing but Social Security remaining to rescue them in their retirement years. No, Americans are angry because they weren’t allowed to lose all of their Social Security money, as well, in the stock market. Clearly they are angry because Wall Street brokers aren’t able to rake in commissions from middle-class and working-class retirees by flipping stocks bought with diverted Social Security funds. The bailouts to Wall Street were not enough. We need to give the rent-seeking bankers the vast funds of Social Security as well and let them charge us fees for “managing” it with the legendary expertise we all know and admire.
I hope Ryan isn’t previewing the Republicans’ position on Social Security reform. I can’t believe this stand would be good for their party. I know it wouldn’t be good for the country.