Penguin: Peter Peterson & Gang Pressing for Destruction of Safety Net — Time to Roll Out The Chicago Plan and Stick It to Wall Street

Commerce, Corruption, Government
Who, Me?

Does anybody in the federal government actually read and think anymore?

Wall Street’s Plan to Push Obama to Betray Those Who Elected Him

Through its lobbying group Third Way and media mouthpieces, Wall Street is determined to destroy the social safety net.

The safety net is the glory of America and the unending nightmare of Wall Street. That’s why Wall Street’s leading “false flag” group, the Third Way (which calls itself a “leading moderate think tank”), has responded to the warnings that Robert Kuttner, AFL-CIO President Trumka, and I have made that if President Obama is re-elected our immediate task will be to prevent the Great Betrayal – the adoption of self-destructive austerity programs and the opening wedge of the effort to unravel the safety net (including Social Security, Medicare, and Medicaid).

Here’s what you need to know about this plan to rob Americans of their future.

Read full article.

Phi Beta Iota:  A clever well-informed President intent on making the most of his last four years would–unless he aspires to being a Wall Street shill after retirement from the White House–be putting The Chicago Plan Revisited front and center along with the Automated Payment Transaction Tax.  Wall Street–and Peter Peterson and David Walker in particular–needs to shut up and disappear into its box while ethical adults (hard to find, we know) sort this out.  What we can say with certainty is that both Congress and the White House are betraying the public trust as this time by not being clever or well-informed — they continue to focus on doing the wrong things righter instead of the right thing.