Thursday, January 06, 2005

Social (in)Security

Dubya has Social Security in the crosshairs and the plan is simple: Scare the public with bogus statistics...and then hand the whole thing over to his rich owners while we hail him as a savior.



But as Doug Henwood (http://www.leftbusinessobserver.com) has pointed out, predictions of doom are based on an average annual economic growth rate of 1.5 percent over the next 75 years.

The average rate over the past 75 years is 2.9 percent, and even in the slow-growth years since the 1973 oil shock, the rate has been 2.4 percent.

If the economy were to grow at an easily sustainable 2.2 percent a year, Social Security would remain solvent as far as the eye can see.

Get it? Corporate America and its playthings in Congress create false predictions, frighten us with lies based on those false predictions, and get our approval to hand over Social Security to the billionaires on Wall Street through privitazation.

You can get away with transparent bullshit like that when you’re dealing with a society so heavily conditioned, programmed, and indoctrinated.

Spread the word: Social Security is not in trouble and even if the skewed prediction of a 1.5 percent growth rate were to come true, Wall Street would be too busy scraping executives, brokers, and traders off the pavement to worry our retirement $$$.

This is an old article, but much of its basic premise remains true:
http://www127.pair.com/critical/myth-06.htm

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Posted on 01/06 at 08:15 AM
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