(Another excelelnt diary from Bruce Webb that takes us beneath the surface appearances of the war against social insurance that's currently heating up. - promoted by Paul Rosenberg)
Homer began the Iliad, his epic telling of the Trojan War, 'in media res' - in the middle of the affair and then told the story backwards and forwards and it is useful to address the War on Social Insurance in the same way. Because most of the warriors would indignantly deny they were waging any such war at all.
Wake up, America! We're on the brink of a financial meltdown. I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions.
and then the blurb concludes
Creadon uses candid interviews and his featured subjects include Warren Buffett, Alan Greenspan, Paul O'Neill, Robert Rubin, and Paul Volcker, along with the Peter G. Peterson Foundation's own David Walker and Bob Bixby of the Concord Coalition, a Foundation grantee.
Pointedly topical and consummately nonpartisan, I.O.U.S.A. drives home the message that the only time for America's financial future is now.
And so the battleground is set, and as we shall see the important key phrases and names here will be "overextended entitlement programs", Robert Rubin, David Walker, Bob Bixby, the Peter G Peterson Foundation and the Concord Coalition. More on the War in Extended Entry.
Despite all the Sky is Falling hype being put forth by USA Today and the WaPo all of it in origin coming from Pete G Peterson's creations (Concord Coalition and the PGP Foundation) augmented by Cato and AEI you can fix Social Security for $1.50 per week in the first two years for a median income household with no further changes needed until 2026 when some similarly sized increases would be require each year for ten years. Poof! Enact the Northwest Plan and $15.4 trillion of much ballyhooed crippling debt simply vanishes off the balance sheet. Don't believe it? Check out the post above and the one cross-posted from Angry Bear in the extended entry. Oh and don't forget to check the numbers in the spreadsheet.
NW Plan by me and Dale Coberly with assist from Arne and insights from Prof. B Rosser of JMU.
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