Apparently there really is a social security bogeyman…

…and his name is Peter Peterson!  According to an article by Dean Baker on Truthout.

Billionaire investment banker Peter Peterson is back on the warpath. He just established a new foundation with a $1 billion endowment, the main purpose of which is to cut back spending on Social Security, Medicare and Medicaid.

As Dean points out, it would be more effective for Mr. Peterson to advocate for fixing our inefficient health care system if he was truly worried about the long term budget.

This reality would suggest the importance of reforming the health care system. Health care reform would mean confronting the insurance and pharmaceutical industries, as well as the doctors’ lobbies. These groups have serious power. That’s why Mr. Peterson prefers to stick with granny bashing.

Now if we can just get Laurel and Hardy, and whole bunch of wind up soldiers to head over to this new foundation, we may have weathered this expanded threat to Social Security.



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