Social Security has been around for more than 80 years to provide millions of Americans with retirement, disability and survivor’s benefits every year. The program has had its critics over the years and the Republican Party has always seemed to launch attacks on the disability program, but party officials have also gone after agency’s old-age benefit program from time-to-time.
Remember when former President George W. Bush launched a scheme to privatize Social Security? Luckily the American people and Congress had no interest in any plan to privatize Social Security. Imagine if millions of Americans lost their Social Security retirement funds like they did a few years back with their 401k plans.
Congress has resisted any plans to play the stock market with Social Security funds, but the threat is always there. There are still Republicans who want to privatize Social Security, reduce benefits and increase the retirement age and some of those people are the protectors of Social Security ironically enough.
Charles Blahous III is a Social Security Trustee, who is one person who is in charge of managing Social Security’s trust funds. This former Bush confidant came out against transferring funds to the disability trust fund last year, which saved 20 percent of benefits for Americans and has also been a proponent of privatizing Social Security. He has also argued that Social Security benefits are more generous than originally intended and that future benefits should be cut. The Los Angeles Times likened Blahous’ appointment to a fox being appointed to guard a henhouse.
It looked as if Blahous’ term was coming to an end, but surprisingly President Barack Obama re-nominated Blahous to another four-year term as trustee. It remains to be seen why the president would appoint someone to such an important post who is in favor of cutting benefits. Needless to say, other Democrats are not so pleased with this re-appointment by the president.
