A declaration of war on Social Security (abstract)
April 23, 2014
There is a growing movement among many conservatives and right wing state legislatures to call a Constitutional Convention to pass a ‘balanced budget amendment’ to the US constitution (for the rich).
However, the issue is far larger than simply the question of whether or not such a convention should take place. At the root of this debate is the age old class interests of the wealthy – the ‘Lords of Capital’ – on one hand, and working people and the poor on the other. Also, the very fact that a party as thoroughly corrupt and controlled by corporate interests as the Republican Party would be promoting the notion of a Constitutional Convention on a balanced budget amendment, while issues such as permanent war, ubiquitous surveillance, and a fundamentally corrupt financial system are conveniently ignored, should give everyone pause.
Social security, long a target of the most reactionary conservatives, would be mortally undercut and wounded by such an amendment. As the report notes, “The balanced budget amendment would raise other problems…due to its requirement that federal spending in any year must be offset by revenues collected in that same year. Social security could not draw down its reserves from previous years to pay benefits in a later year but, instead, could be forced to cut benefits even if it had ample balances in its trust funds, as it does today. Complete article at: rt.com/op-edge/154232-us-constitution-amending-working-people/