Last week the Senate rejected the President’s proposal to give seniors a $250 bonus in lieu of a Social Security cost of living adjustment. Had it been granted the bonus would have added $14 billion to the deficit.
Senator Sanders the supposed independent from Vermont said the $250 Social Security payment was needed to make up for the lack of a cost-of-living adjustment this year for beneficiaries.
That COLI was absent because low inflation did not justify the payment under the law.
What should be most disturbing to us are (1) the President would propose such an unjustified, unfunded expense and (2) that the vote was only 50-47 to defeat the idea.
The President’s ideology of spending on what appears highly desirable without regard to ability to pay is a reflection of a generation that should take substantial responsibility for the fiscal mess in which we are mired. The President is part of that generation.
That ideology is embedded in the health care reform legislation as well and long after this President has finished building his library on the banks of Lake Michigan the Country will be carrying the burden of a generation that does not understand the concept of living within ones means.