The Wall Street Journal is reporting this morning, “Congress’s hot August recess has begun with rhetoric to match, with Democrats pummeling Republicans for wanting to trim Social Security, and Republicans hammering Democrats for favoring tax increases.”
Likewise, CNN notes, “Democrats pledged Friday to not only keep Social Security in place, but use the historic program against Republicans ahead of the midterm election.”
Moderate Republicans in Congress will probably quake about those crazy guys like Ken Buck who want to save social security instead of let it go bankrupt. But conservatives need not run away from the issue.
For starters, most Americans know that social security is going to go bankrupt unless something is done. Likewise, most younger Americans don’t expect the program to survive until they get to retirement. Republicans willing to discuss this issue, and articulately explain, as Sharron Angle is doing, that the Democrats are using the social security trust fund to expand big government will have no problem.
But this isn’t the only reason the GOP need not worry. If we go back to 1994, we will find the Democrats doing the exact same thing. That didn’t work so well, did it? Let’s take a look.
John King, then a reporter for the Associated Press, wrote on October 31, 1994, “Hoping to boost Democratic prospects and campaign, President Clinton warned Monday that “snake oil” Republican promises would force devastating Social Security cuts.”
Marianne Means, writing in the Baltimore Sun on October 28, 1994, wrote, “Currently, Democrats and Republicans are heatedly charging each other with crafting dire secret schemes to hurt the elderly by drastically slashing their benefits. At the same time they are denying that they themselves would dream of doing any such thing.”
On September 30, 1994, in an interview with Alan Colmes, Bill Clinton addressed the issue himself saying, “What they’re for is to go back to trickle-down economics. They made over a trillion dollars worth of promises to the American people in this contract. And how they’re going to pay for it is either to explode the deficit again, after we brought it down, or to cut Medicare or Social Security or never pay for the crime bill.”
Note that, like Barack Obama, Clinton didn’t just pound them on social security, but also on going back to Ronald Reagan and George H. W. Bush. Clinton would, as Obama is doing now, continue using the “return to Bush” theme all the way to the end of the campaign.
The U.K.’s Independent reported on October 31, 1994, “Hardly back from his gruelling Middle East trip, Mr Clinton used his weekly radio address to exhort Americans not to listen to the ”easy promises” of Republicans, which would bring back the ”failed policies” the country had sampled under Ronald Reagan and George Bush. Buoying him were opinion polls showing his own pop ularity on the mend, and likely Democratic voters on the increase.”
The Left will look at the dates and say, “Whew. They waited until it was too late in 1994. At least we’ve started up in August.”
I hate to disappoint them, but throughout 1994, the Democrats tried desperately to scare people that the GOP would kill social security and bring back George Bush’s economy. It did not exactly work out well for them.
Steve Maley
KnightsofMalta
Well said, Erick
vamoose Monday, August 16th at 5:22AM EST (link)What Republican proposal to trim social security are Dems referring to? I haven’t heard any. Dems are attempting to manufacture an issue that HASN’T WORKED for them in the past. Brilliant!
Vamoose, You Just Gave an example of
greyfox65 Monday, August 16th at 8:46AM EST (link)the classic definition of “stupidity”. Tax, spend, and stupidity as well. What a combo!
Larry Cumbie
This is no big secret
flajim Monday, August 16th at 6:36AM EST (link)The Democrat-socialists’ only strategy is to sow class envy, bogus racism charges, and instill fear of nonexistent bogeymen. Failing that, there are the ad hominem attacks.
They have no ideas other than higher taxes and spending in order to make Americans reliant on government. Someone who robs me of a hundred dollara and gives me back five is not going to earn my gratitude, however.
Quite right
kyle8 (Diary) Monday, August 16th at 6:47AM EST (link)yet another indictment of the old Republican Guard in congress. They knew for years that we had to do something about this program but lacked the courage to bring the fight to the Democrats.
And even with all the evidence that this is no longer a “third rail” they are, many of them, still frightened to death of it.
Luckily this primary season has swept away a lot of those types of Republicans.
“Nothing works like freedom, Nothing succeeds like liberty”
Kyle
There is NO "Trust Fund!"
gmcgann Monday, August 16th at 9:23AM EST (link)The excess dollars that social security takes in cannot be stuck in an account somewhere. By law, the only thing that can be done is to buy T-Bills with them. The proceeds from the T-Bills go into the General Fund, where they are spent. The T-Bills, also known as IOU’s, are now considered the Trust Fund. Giving yourself an IOU is not building a source of funding for the future, it’s building a bunch of promises to pay yourself back in the future. There is nothing to “raid.”
It’s become a moot point anyway, as Social Security spent more than it took in this year rather than in 2017 as had been predicted. There is no excess money to buy T-Bills for the Trust Fund.
There is no "trust fund".
realskinny (Diary) Monday, August 16th at 11:39AM EST (link)We continually hear lying politicians talk of “reserves to pay out benefits” lasting until 2037. There are no “reserves”. Gmcgann is right. The T-bills in the fictional “reserve” are payable BY the Treasury TO the Treasury. IOU’s written to yourself have no value. This is what Enron was doing—writing IOU’s to themselves and calling them assets.
Anytime the SS taxes withheld from paychecks are not sufficient to cover Benefits paid out, the difference must be made up out of general revenues and they are already running $1.5 trillion short. Anytime you hear someone say there are any reserves to cover shortfalls, you’re hearing from a bald faced liar, a complete idiot or both.
everyone knows
mdd1956 Monday, August 16th at 9:24AM EST (link)It is incumbent on every
generation to pay its own debts as it goes.
A principle which if acted on would save
one-half the wars of the world.
Thomas Jefferson
“Our War” is a generational one now, guess who started it?
just fear tactics
fotophun Monday, August 16th at 10:35AM EST (link)remember when claimed the Republicans were going to kill lunches for kids in schools,
well they now have done worse
cutting food stamps for Michelle’s program
since when did Michelle get elected?
Same tired old lies indeed.
southcoast Monday, August 16th at 10:36AM EST (link)Day by day, the democrat party loses what little credibility it has left. The party is spending any political capital accumulated in the past while it has lost the ability to create any honest political capital. Along the same theme, if political capital were real currency, the democrats would be living in a Weimar Republic.
Dido
normklevens Monday, August 16th at 11:06AM EST (link)And the democrats cut Medicare by $500 billion in Obamacare and now food stamps; they have no room to maneuver. I wouldn’t mind going back to the economy of ’02 to ’06. Why don’t people get it ?