Wednesday, October 08, 2008

Transcript of second McCain, Obama debate -
"Brokaw: There are lots of issues that we are going to be dealing with here tonight. And we have a question from Langdon (ph) in Ballston Spa, New York, and that's about huge unfunded obligations for Social Security, Medicare, and other entitlement programs that will soon eat up all of the revenue that's in place and then go into a deficit position. Since the rules are pretty loose here, I'm going to add my own to this one. Instead of having a discussion, let me ask you as a coda to that. Would you give Congress a date certain to reform Social Security and Medicare within two years after you take office? Because in a bipartisan way, everyone agrees, that's a big ticking time bomb that will eat us up maybe even more than the mortgage crisis."

I think it is about time we lose this idea of having "journalists" and TV anchorpersons moderate these "debates". Brokaw is an idiot. And a dangerous one at that because for some reason, people think he knows what he is talking about and look upon him as some sort of elder statesman. First of all he links Social Security and Medicare as if they are the same thing. No. They are fundamentally different and not at all alike. Secondly, Social Security is completely solvent and not projected to draw down on its assets until 2041. Got that? There has never been a time in its history when it was in as strong a financial position as it is now. What has everyone worried is the huge deficits we keep racking up year after year. And yet, we are able to pull $750B for Wall Street without too much trouble, $800B for the Iraq War ON TOP OF the regular appropriations for "defense" to the tune of $400B+ per year. "Entitlements" are not the problem. The problem is we lack the political will to spend our money wisely and appropriately. And McCain has no clue about it and Obama is willfully obtuse about it.

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