Before he even takes office, the ruling class' selected president, Democrat Barack Obama, announced his plans to cut Social Security, Medicarre and Medicaid. He did not say anything about cutting US aid to Israel, which receives million a day from US taxpayers to murder Palestinians and steal Palestinian land and gas fields because he is 100% pro-Israel.
"Obama prepares sweeping cuts in social programs," by Patrick Martin, 1/8/09
Barack Obama took the occasion of his first press appearance in Washington as president-elect to declare his determination to impose policies of budgetary austerity, including the elimination of entire federal programs and cost-cutting in the entitlement programs such as Social Security, Medicare and Medicaid that are of vital importance to tens of millions of elderly and poor people.
Obama announced his appointment of Nancy Killefer, a director at the management consulting firm McKinsey & Co., to a new White House post of chief performance officer. Killefer, a Treasury official in the Clinton administration, will be in charge of setting performance standards for federal agencies and enforcing them on agency officials. Those programs that fail to meet these standards will be targeted for reorganization or elimination.
SOCIAL SECURITY AND MEDICARE ARE SOLVENT
While both Social Security and Medicare are solvent, currently taking in more tax revenues than they pay out, the Social Security Trust Fund, which represents the accumulated contributions of three generations of working people, has been effectively plundered to pay for the Bush administration's tax cuts for the wealthy, two wars and the immense US military establishment.
Out of .7 trillion in total federal debt, about 40 percent, or .3 trillion, is borrowed from Social Security. The Trust Fund is the largest holder of federal debt, followed by US private investors, who hold .4 trillion, and foreign investors, many of them governments, who hold trillion.
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