Obama’s “Jobs Plan” Endangers Social Security and Medicare

Via Naked Capitalism, The Real News Network interviewed an actual economist, Robert Pollen of the University of Massachusetts at Amherst, about Obama’s “Jobs Plan” as describe in last night’s speech. It’s well worth a listen.

According to Zach Carter at HuffPo, next week Obama plans to propose a deficit reduction package that will include increasing the eligibility age of both Social Security and Medicare.

Jon Walker at FDL also has a couple of posts about the Villagers’ plans for Medicare:

Political Forces Lining up to Raise Medicare Retirement Age

The threat to Medicare is very real and pressing. Over the past several months more and more political forces in Washington have being slowly lining up behind a campaign to raise the Medicare eligibility age. This most recent effort really got started when Sen. Joe Lieberman (I-CT) and Tom Coburn (R-OK) put forward a bill to raise the Medicare retirement age in late May.

It got a major push in July when Obama privately offered it up as part of a “grand bargain” on the debt ceiling with Speaker John Boehner. It probably got another push in Obama’s jobs speech last night when the president suggested he still wants to change Medicare in a way “some in his party” won’t like.

The campaign also got a behind-the-scenes boost this week. First, the Democratic members of the House Ways and Means committee included raising the Medicare retirement age in a memo to the Super Committee outlining possible deficit reduction options. But more importantly, the powerful Obama is coming to cut Medicare Walker points out the part of Obama’s speech in which he suggested that Democrats are rigid and unreasonable in opposing changes to Medicare. Walker counters:

Progressives support ways to reduce Medicare spending by methods such as allowing Medicare to directly negotiate for drug prices. Progressives just do not support shifting costs onto old people. Obama saying he supports Medicare changes “some in his party” won’t like is code for saying he will support cutting benefits.

Most of the jobs parts of the speech are unlikely to pass, so on the policy front they won’t really matter much. On the other hand, there is a Super Committee currently empowered to make large deficit reductions, so this part of the speech about cutting Medicare benefits could be the only policy from the speech that is enacted.

I fear all that may result from this speech is that Obama gets a campaign message about how the Republicans don’t care about jobs, and Obama helps the Super Committee raise the Medicare retirement age.

Obama Must Go!!


17 Comments on “Obama’s “Jobs Plan” Endangers Social Security and Medicare”

  1. dakinikat says:

    I’m really worried about this. Obama rode in on the back of Wall Street and now they’ve turned their attention to Romney. Wall Street has wanted their mitts on this forever and he may do with SS what he did to health care. Basically, turn it over to robber barons. They reforms on medicare are not gutting the extraordinary favors for big pharma either. They’re talking about upping the eligibility age. These programs are supposed to be basics upon top of which private plans are offered. They are not supposed to be turned over to the private sector for looting.

    • bostonboomer says:

      I’m worried too. I wish I knew what we could do about it.

    • Woman Voter says:

      So, his health plan bill is a give away to the insurance companies, he blocked the Medicare Buy In and let the insurance raise premiums and now he is going to gut Medicare, raise the age so that people are left without insurance upon hitting 45!

      I looked at the law off notice of an employee’s son two days ago and the first thing I picked up on was that everyone being laid off (with the exception of two employees age 29 & 30) were all over 30. I asked if they have any young employees, and was told yes. I am not stupid, the companies are letting go of the older workers because they can’t handle the sky rocketing premiums, and many of those age 45 and above are going to be 99’ers. The Democrats have sold out their soul, betrayed all their loyal voters and those that are most vulnerable; seniors, and the disabled.

      We all know that the population that is most at risk of falling ill and dying without insurance are the 45 and over group. I wish we could pass a bill to take away all the perks of congress, the Supreme Court and POTUS and his VP.

  2. Beata says:

    This is just a nightmare. Worse than I ever imagined. I am aghast.

  3. propertius says:

    As Myiq used to say, this is a feature not a bug. How else was Obama going to push through reduced benefits?

    • Woman Voter says:

      He is putting the blame on seniors, the disabled, widows, and orphans while the rich got their Bail Out that they never shared, the money that never trickled down… Democratic principles down’t exist anymore, it’s one party….the choice is Perry Extreme and Obama Extreme, but the latter expects you to clap for him while he puts you in the poor house.

  4. Peggy Sue says:

    This is what I was reading last night and what my husband mentioned earlier: cut payroll taxes and you cut SS funding. It’s a poison pill disguised as a monetary treat for the currently employed. And what does this have to do with jobs? People won’t spend this extra money, so it won’t stimulate a damn thing. Most Americans are paying off debt and holding off spending to bare essentials. There is no demand out there and even less confidence in this Administration or Congress. And ‘modest’ reforms to the programs? That’s double-talk.

    The American public is being sold down the river in neat, tidy chunks. And then, the biggest insult is suggesting trade deals with Panama, Columbia and S. Korea will create thousands of jobs. McConnell was screeching that lie just the other day. Obama must be his parrot.

    For me, one of the biggest tells was Jeffrey Immelt saying how he loved the proposals and how the economy is in much better shape than the American public realizes. Better for him, perhaps. It’s merely a confidence problem, Immelt claims. Remove the uncertainty and all our problems will be resolved.

    Well, I’m certain of this: Obama, his sychophants, all his high-roller friends aligned with the crazy Right haven’t the slightest regard for the working class, the middle class or anyone but themselves. It seems their true aim is to destroy us all. Or at least make the country fearful and subservient.

    Is that class warfare? You’re damn right it is.

    • Woman Voter says:

      Is that class warfare? You’re damn right it is.

      The one thing about Reagan I hated was how rich people looked down on working people. Do you recall the ‘right geans’, the ‘right Polo’ shirt and the ‘right car’ or you were seen as trash…I do.

      While a senator he took apart the health care bill for his state, blocked the bill to reform credit companies and basically never introduced any progressive bills, while voting present, yet we were expected to believe that this man was going to part the waters. 😯

      • Woman Voter says:

        By senator I mean Obama, the guy with no record of bills of his own, but a record of blocking or taking apart bills that took years to put forth. He also blocked HR 676 Single payer and the Public Option, and now expects us to call congress to PASS A BILL NO ONE HAS SEEN!

  5. The Rock says:


    Hillary 2012

  6. The Rock says:

    2 things from the video. Dr. Pollen mentioned two tax ideas that would not only stimulate productivity, but also bring money, TAXPAYER MONEY, to the public. First was the tax on financial transactions. I didn’t know that those transactions weren’t taxed! Second was the potential move by Bernake to stop paying banks to hold onto money (0.25% paid to the holder of a loan taken at 0%). Neither of these would cost the taxpayer a dime, the rate wouldn’t be felt by those paying the financial transactions, and it would encourage the banks holding onto all this paper to start moving it around. Attach cuts to business that use this money to hire workers out of work for over 6 months might even be another added incentive to stimulate demand by getting people that have been out of work and NOT purchasing to begin purchasing. I can’t wait for Obama to get these two programs through Congress!

    And then I woke up.


    Hillary 2012

    • Woman Voter says:

      The banks aren’t lending out money, not even with a credit score of 721! They are keeping it and I would like to tell Dak something I discovered that they are doing with the money, which is shocking.