Bernanke suggests repeal of Social Security and Medicare

[JDPriestly]

Sen. Bob Bennett (R-Utah) sympathized with Bernanke, saying that, because of entitlement spending, "you're going to be looking at a situation where the Congress will be unable to provide any kind of fiscal discipline because of the mandatory spending. That puts an enormous burden on your plate."

"Well, Senator, I was about to address entitlements," Bernanke replied. "I think you can't tackle the problem in the medium term without doing something about getting entitlements under control and reducing the costs, particularly of health care."

Bernanke reminded Congress that it has the power to repeal Social Security and Medicare.

"It's only mandatory until Congress says it's not mandatory. And we have no option but to address those costs at some point or else we will have an unsustainable situation," said Bernanke.

http://www.huffingtonpost.com/2009/12/03/bernanke-channels-willie_n_378963.html

Millions of baby-boomers will have to live with and on the income of their children (assuming they have any) if Social Security and Medicare are cut. Sure, some people have pensions. Most baby-boomers don't.

We need to remind Bernanke that it is the trade agreements that are impoverishing Americans and putting them out of work and Congress also has the authority to repeal the trade agreements. Let's impose tariffs as our Founding Fathers intended we should, return Americans back to good jobs that we do better than anyone else and restore the social net that insures the future of the middle class.

The first step is to bet rid of Bernanke and put Elizabeth Warren in his place. We need someone to represent ordinary Americans at the Fed.