Sen. Jeanne Shaheen helpfully illustrated the Democrats’ attitude during an interview with MSNBC on Tuesday. After saying that no sacred cows should be spared when it comes to reducing the federal debt and avoiding the fiscal cliff, she said we should “take Social Security off the table.”
“Social Security has not contributed to the debt and the deficits,” Shaheen asserted. That is false. Social Security benefits payments have been greater than its revenues since 2009. Last year Social Security ran a $46 billion deficit. “Now, Social Security is sucking money out of the Treasury,” The Washington Post reported in October of 2011.
Democrats want substantial tax hikes, paltry spending cuts and unsustainable entitlement spending left largely untouched.
This is what passes for fiscal seriousness on the eve of President Obama’s second term.