Daily Archives: February 17, 2011

Talking Points Memo: Report: Wis. Dem State Senators Leave State To Block Budget Quorum

February 17, 2011- The weather in Wisconsin is cold this time of year — but the budget fight is only getting hotter. Following a walkout by the state Senate Democrats, depriving Republicans of the three-fifths majority needed to pass the budget and its controversial anti-public union provisions, the NBC affiliate in Madison now reports that sources say the Dems have left the state entirely.

This comes after the state Senate majority leader said that the State Patrol could be called in to round up the Dems. However, leaving for another state would presumably place the legislators beyond the state's jurisdiction. (Fun fact: The state Senate leader and the Assembly Speaker are brothers — and the new head of the State Patrol is their father.)

Robert Reich’s Blog: Budget Baloney (1): Why Social Security Isn’t a Problem for 26 Years, and the Best Way to Fix It Permanently

February 16, 2011- New Jersey Governor Chris Christie, a Republican presidential hopeful, says in order to “save” Social Security the retirement age should be raised. The media are congratulating him for his putative “courage.” Deficit hawks are proclaiming Social Security one of the big entitlements that has to be cut in order to reduce the budget deficit.

This is all baloney.

In a former life I was a trustee of the Social Security trust fund. So let me set the record straight.

Social Security isn’t responsible for the federal deficit. Just the opposite. Until last year Social Security took in more payroll taxes than it paid out in benefits. It lent the surpluses to the rest of the government.

Robert Reich’s Blog: Budget Baloney (1): Why Social Security Isn’t a Problem for 26 Years, and the Best Way to Fix It Permanently

February 16, 2011- New Jersey Governor Chris Christie, a Republican presidential hopeful, says in order to “save” Social Security the retirement age should be raised. The media are congratulating him for his putative “courage.” Deficit hawks are proclaiming Social Security one of the big entitlements that has to be cut in order to reduce the budget deficit.

This is all baloney.

In a former life I was a trustee of the Social Security trust fund. So let me set the record straight.

Social Security isn’t responsible for the federal deficit. Just the opposite. Until last year Social Security took in more payroll taxes than it paid out in benefits. It lent the surpluses to the rest of the government.

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