The One Percent Turns the Class War into a Generational War
13 Nov 2011 08:49 GMT
The cost of making social security solvent for 75 years amounts to 0.58 of the GDP. The cost of the wars in Iraq and Afghanistan amounts to 3 times that much. The cost of transferring wealth to the top 1% over the past 30 years is 6% of the GDP, 10 times as much as the social security cost. But it is only the shortfall in Social Security that the media want us to see as a crisis.
Dean Baker is a macroeconomist and co-director of the Center for Economic and Policy Research in Washington, DC. He previously worked as a senior economist at the Economic Policy Institute and an assistant professor at Bucknell University. He is a regular Truthout columnist and a member of Truthout's Board of Advisers.
to read Dean Baker's article published in www.truth-out.org, November 7, 2011, click on
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