The World According To...........

The world according to the rich, especially the greedy Wall Street corporate thieves who have screwed the workers this country.......and, unfortunately, the DINOs getting ready to cave to the GOP in the Grand Bargain....... 

From Pat Garofalo at Think Progress: 

"Several CEOs — under the guise of a campaign known as “Fix the Debt” — have recently called for cuts to Social Security and other entitlements. Goldman Sachs CEO Lloyd Blankfein, for instance, said that “there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised.” “The solutions [to the fiscal cliff] are – it’s the retirement age; means testing Social Security and Medicare,” said Aetna CEO Mark Berolino. “We just need to get leadership.”

"Of course, these CEOs have little cause for concern if government retirement assistance is cut, as they have millions of dollars squirreled away in their personal retirement accounts:

– The 71 Fix the Debt CEOs of public companies have average retirement assets of $9.1 million. Of these 71 CEOs, 54 participate in their company‘s retirement programs and have collective pension assets of $649 million, or more than $12 million per CEO — enough to generate a $65,873 pension check each month for life. In contrast, the average monthly Social Security check for retired workers is $1,237.

– A dozen of the Fix the Debt executives have more than $20 million in their individual company retirement accounts. If each of these CEOs converted their assets to an annuity when they turned 65, they would receive a monthly check for at least $110,000 for life.

"Blankfein has nearly $12 million in retirement assets, while Bertolini has $1.5 million. Adding insult to injury, many of the CEOs calling for cuts to the social safety net are underfunding their workers’ retirement accounts:

Of the 71 publicly held Fix the Debt member companies, 41 provide employee pension funds for their workers. Of these, only two have sufficient assets in their pension funds to meet their expected obligations. The rest have underfunded their worker pension funds by $103 billion, or about $2.5 billion on average.

"Since 1985, 84,000 pension plans have been eliminated. And now these CEOs are coming after the government programs upon which the elderly, and many others, depend."

The real world view of workers, the unemployed, underemployed (screwed by the rich) all focusing on "where are the jobs?"  while the asshats in Washington along with their super rich corporate fraudster cronies keep scamming regular Americans with debt myths in order to make the rich richer and the struggling rest poorer.

From Jon Walker at Firedoglake:

"By greater than a two-to-one margin, voters overwhelmingly oppose increasing the Medicare retirement age from 65 to 67, according to a newWashington Post poll. The poll found 67 percent of registered voters oppose raising the Medicare retirement age while just 30 percent of voters support the idea. On the other hand, 60 percent of voters support raising taxes on the rich.

"Raising the Medicare retirement age is not only a deeply unpopular way to reduce the deficit, it is also terrible and ineffective policy. The move would only save the federal government a modest amount of money, while shifting even greater costs onto millions of Americans. It would not only cost individuals near retirement more, but it would increase the premiums for everyone on Medicare and people using the new Affordable Care Act exchanges.

"Despite the fact that it is simply idiotic policy, the idea of increasing the Medicare retirement age from 65 to 67 is being seriously entertained by a disturbing number of prominent figures in Washington. Many top Republicans and Democrats have advocated for the idea. President Obamaeven offered it to Speaker John Boehner in 2011 as part of a possible debt deal.

"Hopefully the combination of the idea being both unpopular and unsound will prevent it from being part of any fiscal cliff deal, but the fact that the idea is still being discussed is a perfect symbol of what is wrong with the current dialog in Washington. Politicians promoting bad and unpopular ideas are treated as serious thinkers instead of psychopaths, because advocating for needlessly hurting poor people is somehow seen as a badge of courage."

Here are some of those DINO "serious thinkers."

 

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