Obama Deficit Commission Issues Report: Social Security To Be Destroyed

When I heard President Obama had created a deficit commission to look at ways to save money from domestic programs, I knew Social Security would be in trouble.

But I didn't think it would be this bad. Even Obama shills at TPM think it's essentially the destruction of Social Security as we know it:

Deficit Commission releases recommendations: the main one of which seems to be to decimate Social Security.

Late Update: We'll have a more detailed piece on this shortly. But I wanted to give people an overview idea of the key recommendation on Social Security: namely, changing the 'indexing' of Social Security benefits to inflation rather than wages. That sounds very technical. And most people won't even know what it means. But whatever the rationales and arguments, what it means is very clear. Significantly lower cost of living adjustments which are cumulative in their effect over time. Think of it as a chart where you either have the money number going up at a 10 degree angle or a 15 degree angle. Not that big a difference in the first few increments but once you get to the right side of the graph, it's a dramatic difference. I would say this is actually a much more significant change than the other recommendation to change the retirement age to 69. Much bigger.

More change we can believe in from the corporate-friendly president in the White House.

I can't see why the corporations don't love him.

He is succeeding at the privatization of education and the destruction of Social Security in ways that George W. Bush could have only dreamed of.