President Bush’s pitch to workers, especially young workers, that privatization will make you rich is a Wall Street swindle. A detailed analysis of the most likely Bush administration proposals for Social Security included in the Goldman Sachs Global Economic Research Bulletin for Dec. 17 shows the Bush program to be a fraud — but a clever fraud.
WASHINGTON — Despite a raging blizzard and the shadow of the Bush inauguration, more than 500 activists turned out for a summit to help craft a strategy of taking back the country from the ultraright. Organized by the Progressive Democrats of America (PDA), the meeting also had a goal of reinvigorating the progressive movement both inside and outside the Democratic Party.
Labor, retiree and community organizations in California are kicking off a campaign to uphold Social Security against the drive of President Bush and Wall Street to privatize the 70-year-old program serving retirees, the disabled, and families of deceased workers. At the same time, they are gearing up to defeat Gov. Arnold Schwarzenegger’s campaign to privatize the pensions of California state employees.
OPINION In “Health care: beyond markets” PWW Dec. 18-24, George Silver nailed the disaster that market-driven health care has brought to our nation. He rightly condemned the “architecture of profitability,” decrying the profits and immunity from regulation that have brought industrial giants into health care. He pointed out that preventive investments are almost nonexistent.
There’s a retirement crisis facing older workers. The bosses tell us they can’t meet pension obligations because there are too many retirees and not enough active workers. They use the same argument to explain why they have to gut or privatize Social Security.