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Commentary :: Labor

The One Percent Turns Class War into Generational War

The cost of making Social Security solvent for 75 years amounts to 0.58% of the GDP. The cost of the Iraq and Afghanistan wars is three times as much. The cost of transferring wealth to the top 1% over thirty years is 6% of GDP, ten times 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

www.truth-out.org/one-percent-turns-class-war-generational-war/1320680738
 
 

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