HENDERSON, Nev. – Is Barry blowing more smoke up our skirts or does he mean it this time? He says he knows how to fix Social Security, so will he? If so, when?
President Barack Obama was in Nevada, you know, the same state that Harry Reid is from and whom Republicans are targeting for defeat in November's midterm elections. So why is it that politicians start talking sense right before every election cycle after they have left behind a trail of broken promises? (h/t David Sirota.)
Barry knows that the Social Security system is running out of money but he now says that it can exist well into the future "with a slight fix." Currently, the system is funded with a tax on earnings up to $109,000 a year but Obama says lifting that cap to tax a larger share of income would solve the problem. Without this adjustment, Social Security will begin to run out of money in 20 years as more people start to collect benefits.
This would, of course, also be very unpopular with others like the Michele Bachmannites who preach 'Social Security and Medicare' are the Devil's own spawn who have dodged the tax, but hey, WE like this whole Social Security deal and if he really means it, Yay Obama!