Wednesday, October 26, 2016

Corporate Democrat watch, October 25: a "Clintonian" program to pirvatize Social Security?

One of the most regrettable efforts of Obama's Presidency was his repeated attempts to strike a Grand Bargain with the Republicans to cut benefits on Social Security and Medicare.

I certainly hope President Hillary Clinton doesn't take a similar course. Because one of her most prominent backers is pushing a Social Security privatization scheme. Erik Sherman reports in Clinton Might Be Moving Toward Social Security Privatization Forbes 10/23/2016.

He also links to this analsysi by Yves Smith, Blackstone’s Tony James Touting What Looks Like Hillary’s Scheme to Gut Social Security Naked Capitalism 10/19/2016.

This is a bad idea that Democratic base voters should keep a watch for. Because it's a really bad idea for pretty much everybody but hedge funds.

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