A headline at CNN back on August 13th proclaimed “Democrats to use Social Security against GOP this fall”.There is just one problem.The Wall Street Journal is reporting that it is Barack Obama’s own debt commission that intends to destroy social security as we know it.
In addition to raising the retirement age, which is now set to reach age 67 in 2027, specific cuts under consideration include lowering benefits for wealthier retires and trimming annual cost-of-living increases, perhaps only for wealthier retirees, people familiar with the talks said.On the tax side, the leading idea is to increase the share of earned income that is subject to Social Security taxes, officials said. Under current law, income beyond $106,000 is exempt. Another idea is to increase the tax rate itself, said a Democrat on the commission.
I’m sure this won’t stop the Democrats from demagoguing the issue and the Republicans will be too stupid to leave the Debt Commission or point out it is the President’s Commission doing the destroying, but the facts won’t change.The Democratic President set up a debt commission and that commission intends to mess with social security. It is not the Republicans.And here’s the thing: if the Democrats really do attack the GOP and demagogue on social security, the GOP members of the commission should quit. It’s that simple. They won’t though. Judd Gregg wants to leave the Senate having arrived at a lame duck bipartisan compromise to screw the country so he can be proclaimed “great” by the fringe we call the political class.