Thursday, December 17, 2009

not the great depression but the greatest....

Social security is basically a contract-a contract between workers and their country so that there is some sense of economic safety for many years of work. It is a promise-a trust. What would have happened if that promise was not kept? What if that promise was compromised or totally betrayed? After World War 1, congress promised a bonus to veterans in a manner similar to today's social security based on time served. Due to the political climate at that time of delaying and delaying government benefits,the bonuses were not to be paid for a long time after service. When economic circumstances changed, the beginning of the Great Depression, the former soldiers wanted their bonuses early. Thousands of these veterans assembled in Washingtom hoping for their promise to be kept. This became known as the "Bonus Army". What made this such a horrible chapter in our history was that the present army was sent in to squwash the assembly of former veterans.
Now imagine if the Republicans had been successful in privatising social security along with their policies and beliefs in less and less regulation of the financial institutions that got us into our current economic crisis since the great depression. What would be going on it the streets with only the only safety net of most of the population gone? With the current political climate where people are bringing guns to political rallies and The NRA is supporting fewer and fewer restrictions of gun carrying in even public places-the scenario is unimaginable.
We would be calling today's events "the greatest depression" and worse.

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