Let’s hope Barack Obama is smarter than these guys:
Treasury Secretary Timothy Geithner, National Economic Council Director Gene Sperling and Sperling’s deputy, Jason Furman — leading figures in the president’s economic team — are pressing Obama to cut Social Security benefits if necessary, say sources familiar with their positions.
This is madness. The only way to fix Social Security is to raise the cap on payroll taxes, and Republicans will never agree to that. Social Security is the most successful program in American history — which is precisely why Republicans want to make people hate it. Then they can say to voters, “We told you your government couldn’t do anything right. Now are you ready for our wicked cool privatization plan?” — at which point Wall Street will have a group orgasm.
Washington is full of Democrats who are part-time Republicans. Sometimes I’m afraid the president is one of them.
Addendum — Here’s the most ridiculous sentence I’ve read this year:
Speaker John Boehner (R-Ohio) has assured Obama that House Republican leaders would support him if he sought to reform entitlements and would not exploit them for political gain in the 2012 election.