Monday, May 30, 2011

Dave Lindorff: "It's the Military, Stupid!: Don't Blame America's Debt Crisis on Social Security and Medicare (Especially on Memorial Day Weekend)"

[Excerpt from the latest at This Can't Be Happening! the online news collective.]

Amid all the nonsense and gobbledegook that has been written about banking industry and about the economic slump during the last four years of the global financial crisis, New York Times reporter Gretchen Morgenson has stood out both for the clarity of her analysis, and for her willingness to go after the guilty parties in the political and especially the banking system, naming names and calling it as she sees it.

So it was kind of disappointing--even shocking--to read her latest article reporting on a new “study” by Peterson Institute for International Economics Senior Fellow Joseph Gagnon, warning about the nation’s growing debt crisis.

The Peterson Institute, founded by Wall Street tycoon Peter Peterson, has long been gunning for the Social Security and Medicare systems, which he, and the rest of the Wall Street gang, see as unfairly competing with Wall Street for the assets of the public, and as destructive of the “free market.”...

Read the complete analysis and critique at

This Can't Be Happening!

1 comment:

Anonymous said...

There is an Opinion piece in the Wall Street Journal this morning declaring that the US has the choice of either being a Superpower or a "Welfare State". I didn't think they could get worse after Murdock. I was wrong.