Sen. Bernie Sanders continues to be one of the stand-up guys in the Senate with telling it straight when it comes to the fact that Social Security does not add a dime to our deficit and that if President Obama wants to do something about the deficit, he needs to be cutting that corporate welfare, instead of talking about balancing the budget on the backs of the most vulnerable in our society and our veterans.
Sanders joined Ed Schultz on MSNBC this Friday evening. After Schultz took the viewers through some of the goading by Republicans who are trying to get President Obama to do their dirty work for them and go after our New Deal social safety nets, and a clip of Ronald Reagan explaining that Social Security does not contribute to the deficit, he asked Sanders if he trusted President Obama not to cave into their demands.
Sanders said no, but if enough of us make our voices heard along with the slew of progressive groups who are pushing back hard against these potential cuts, he feels he will be responsive to the voters. All I can say is I hope he's right about the President listening, and I know he's right about the need for everyone who doesn't want to see these programs cut to make their voices heard and get on the phone, email, write letters, call and make sure that both President Obama and your members of Congress know to how you feel.
They need to be hearing from someone besides the Ed Rendell and Pete Petersons of the world. I'm grateful that we've got Ed Schultz giving us a break from the otherwise constant drumbeat on his network, calling going after our social safety nets adult, serious and balanced in exchange for Republican hostage taking. on raising the debt ceiling after their party spent like drunken sailors and now don't want to pay their credit card bill.
Bernie was still pushing for one item that would help with our deficit that sadly has gone nowhere with those looking out for the 1 percent since it was introduced over a year ago, a tax on Wall Street speculation:
Legislation was introduced on Wednesday to impose a financial transaction tax on the trading of stocks, bonds and derivatives. The measure would reduce gambling on Wall Street, encourage the financial sector to invest in the productive economy, and significantly reduce the deficit without harming average Americans. "This bill offers us a clear choice. We can balance the budget on the backs of working Americans and senior citizens on fixed incomes or we can ask the gamblers on Wall Street to pay a little bit more in taxes," said Sen. Bernie Sanders, a cosponsor of the bill.
Under the proposal, there would be a speculation fee of 0.03 percent on credit default swaps, derivatives, stocks, bonds, and other financial transactions. It would yield about $200 billion in new revenue over the coming decade. The lead sponsor in the Senate is Tom Harkin. Rep. Peter DeFazio filed companion legislation in the House.