Tuesday, March 8, 2011

Contempt

The most generous interpretation of Boehner's remarks to the Wall Street Journal would be to assume that the Speaker is profoundly ignorant of the funding process for Social Security. But why can't we believe that the Speaker is merely misguided, as comforting as that would be? Because he and his party pushed a tax cut through for the wealthiest Americans last year that would have paid for any expected Social Security shortfall for the next 75 years! Specifically, as Daniel Marans pointed out, "the cost of extending the Bush tax cuts for the top 2% of Americans is equivalent to the cost of filling Social Security's 75-year shortfall. Both equal 0.7% of the GDP."


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