Tag Archives: Wall Street Journal

The realism of Berniecare

Ever since Bernie Sanders released details of his single-payer health care proposal recently, critics right and center have been on the attack against his “revolutionary, unaffordable and unachievable” scheme. In fact, for those who truly want to achieve universal, affordable health care, Sanders’ path is the only realistic way forward.

“Be reasonable: demand the impossible.” So said revolutionary Ché Guevara. [NOTE: I’ve since been corrected; the origin of this slogan was not Ché, but a graffiti encountered during the 1968 Paris uprising. Check it out here.] It’s a lesson much of the Democratic Party establishment needs to relearn this election year.

For instance, Henry Aaron of the Brookings Institution. One of the country’s top experts on social insurance and health care financing and a smart political observer to boot, Aaron ran a piece in Newsweek recently that took apart presidential candidate Bernie Sanders’s health care reform plan as being “radical in a way that no legislation has ever been in the United States,” vague on details, and technically unfeasible. It’s “a health reform idea that was, is, and will remain a dream,” Aaron writes. “Single-payer health reform is a dream because, as the old joke goes, ‘you can’t get there from here.’”

Continue reading The realism of Berniecare

The Soft Underbelly

Having failed in numerous frontal assaults on Social Security, the Republican congressional leadership several years ago adopted a new strategy for dismantling the program: attack and demonize Disability Insurance, which they consider to be its soft underbelly. With this week’s passage of the Bipartisan Budget Act of 2015, they drew blood.

We’ve been hearing it for years now: Disability Insurance is overgenerous, fraud-ridden, a well-intentioned program that’s mutated into a form of middle-class welfare. Criteria for awarding benefits need to be tightened, or the $150 billion DI trust fund will go bankrupt. The traditional solution for imbalances in Social Security’s trust funds—shifting money between the DI and the Old Age and Survivors’ (OASI) fund—shouldn’t be used unless “substantive reforms” are implemented.

How wonderful, then, that according to the Wall Street Journal, “Social Security will get its first upgrade since the 1980s to fix Disability Insurance,” thanks to a kumbaya moment between the White House and congressional Republican and Democratic leaders. The two-year Bipartisan Budget Act of 2015, Continue reading The Soft Underbelly

What I Didn’t Hear in the President’s SOTU

Democrats of both progressive and center-right stripe generally gave President Obama high marks for his State of the Union address Tuesday night. When it comes to Social Security, however, he disappointed; merely refraining from supporting cuts to the program isn’t good enough anymore at a time when progressives should be demanding their president back measures to improve it.

“Obama in campaign mode, pushes middle class agenda,” declared Bill Galston, the Brookings Institution’s leading center-right commentator on the economy and fiscal policy. The Wall Street Journal agreed the president’s State of the Union address was a “middle-class pitch.”

Progressives mostly liked the president’s speech as well, except, of course, for his in-your-face demand for fast-track authority to pass another slew of corporate-backed trade deals. “Obama gets some of his swagger back,” Robert Borosage of the Campaign for America’s Future wrote.

There were things in the speech for people to like who were looking for signs that Washington cares about working people Continue reading What I Didn’t Hear in the President’s SOTU

Mario Cuomo was not a “liberal beacon”

The former New York governor, who was laid to rest yesterday, is being mourned as a “forceful defender of liberalism.” In reality, he was a creator of the Democratic center-right and consistent supporter of anti-entitlement crusades.

For anyone who’s followed American politics closely for the past 40 years or so, the headlines following his death were enough to set your teeth on edge: “Mario Cuomo, Ex-New York Governor and Liberal Beacon” (New York Times); “Three-Time Governor; Liberal Leader” (Wall Street Journal). This image of the late politician is even enshrined in Wikipedia: “Cuomo was known for his liberal views and public speeches.”

None of this has much to do with the truth, or Cuomo’s place in history. Indeed, the notion that he was any kind of liberal stems almost entirely from a single speech he delivered at the Democratic National Convention in 1984. The substance of his career tells a different story. So let’s look at the facts.

Continue reading Mario Cuomo was not a “liberal beacon”

“Octomom” and the racial double standard

Social Security’s right-wing critics like to argue that a program guaranteeing a minimal income in old age undermines the family by discouraging working people from having children—and that the resulting decline in the birthrate undermines Social Security. Yet, the right also likes to vilify people of color who have too many children. Could it be that we’ve got a double standard here?

Remember when Nadya Suleman was always in the news ? Perhaps you remember her by her media epithet: Octomom.

Suleman was the 33-year-old Los Angeles mother of six who, in 2009, gave birth to octuplets after receiving fertility treatments, allegedly to qualify for more government assistance and launch a reality-TV career. Single and unemployed, “Octomom” became the focus of bobble-head media outrage in the early years of the Great Recession, a ready target for pundits looking for a way—any way—to deflect attention from the sins of the Wall Street elite. To the reliably quotable Wall Street Journal columnist Peggy Noonan, Suleman was “dizzy, selfish,” the living symbol of America’s national decline. Her statements that she never meant to give birth to octuplets—plausible though they were—somehow never seemed to convince mainstream journalists in possession of what they thought was a story.

What does all this have to do with Social Security? We’ll get to that shortly. But first, an update on one of the more remarkable media circuses of the past few years.

Continue reading “Octomom” and the racial double standard

Why is “entitlement” such a nasty word?

Since his reelection, President Obama has been talking about “reforming entitlements” every chance he gets –or at least when he’s talking to Republicans. But why – and when – did “entitlement” become such a nasty word?

Since his reelection, the president has been trying hard to have it both ways when it comes to Social Security and Medicare. According to the Huffington Post’s Sabrina Siddiqui, Obama on March 14 assured House Democrats that he won’t “slash” the two programs – moments after a meeting with Senate Republicans at which he reaffirmed his commitment to “reforming” entitlements, including adopting the chained CPI for calculating Social Security and Medicare.

Knowing it was poison to his constituency, Obama had more or less avoided the subject on the campaign trail last year. And as Continue reading Why is “entitlement” such a nasty word?

Of Groupthink, Financial Bubbles, and Lance Armstrong

Lance Armstrong got away with ringleading what now looks like a vast doping conspiracy, in part because the sports media refused to investigate what was right under their noses. Why? Because they were too invested in the heroic image that congealed around the Tour de France winner. In much the same way, groupthink in the financial media has repeatedly led our most prominent journalists to valorize hucksters and ignore scandals until they blow up into full-scale catastrophes.

Today’s New York Times includes a fine column by David Carr, taking the mainstream sports media to task as not-to-silent partners in the selling of the Lance Armstrong Legend. Carr gives the sports desk a good spanking. But the problem he describes is actually much bigger, extending deep into the business and economic coverage that is arguably the most critically important information we get from the media nowadays

Let’s review a bit of history. Continue reading Of Groupthink, Financial Bubbles, and Lance Armstrong

Live from the Village: Social Security and the Washington Press Corps

Frustrated defenders of Social Security have been wondering for years why the Washington Press Corps – the elite of American journalism – are so nakedly eager to see our national retirement system gutted. FAIR explained it to us back in 1996. Time for a revisit.

In the classic ’60s TV series The Prisoner, a disgruntled espionage agent resigns. He is then kidnapped and taken to the Village, a deceptively innocuous  seaside community where everybody is happy and content to believe exactly what they’re told, as if it was the most natural thing in the world. Washington – by which I refer to Pennsylvania Avenue, K Street, the think-tank community, Georgetown, and their various satellites – is a little like The Village in that Continue reading Live from the Village: Social Security and the Washington Press Corps

Progressives Learn to Love ObamaCare

“ObamaCare” – actually two complex pieces of legislation, the Patient Protection and Affordable Care Act and the Health Care and the Education Reconciliation Act of 2010 – started life as an unloved orphan. The right hated it passionately and comprehensively, and still does. Progressive Democrats, who’d been working for something like it for a century, were disappointed that it came out a patchwork of baby steps, not a full-fledged reinvention of American health care.

Last month’s policy conference of the National Academy of Social Insurance (NASI) in Washington brought together a group of health care reformers, some of whom have been in the game for a long time. If their comments are anything to go on, progressive Democrats are finally learning to love ObamaCare. If they go so far as to Continue reading Progressives Learn to Love ObamaCare

Newt Gingrich Can’t Get With the Program

Why is the Republican Party leadership so scared of Newt Gingrich? Putting aside his generally abrasive personality, his loud streak of megalomania, and his tendency to self-destruct – OK, that’s a lot! – it’s hard to think of much in the way of substantive policy matters that sets the former House speaker apart from the rest of the Republican presidential field.

Oh yes, there’s one thing.

Early last month, when it still seemed that Mitt Romney’s anointment as GOP nominee was a matter of course, the editors of the Wall Street Journal took Gingrich for his position on, of all things, Social Security. The Journal has been pushing for Social Security privatization for decades, but strangely, Continue reading Newt Gingrich Can’t Get With the Program