Billionaires for Austerity: With Cuts Looming, Wall Street Roots of "Fix the Debt" Campaign Exposed
Democracy NOW!: With $85 billion across-the-board spending cuts, known as "the
sequestration," set to take effect this Friday, a new investigation
reveals how billionaire investors, such as Peter Peterson, have helped
reshape the national debate on the economy, the debt and social
spending. Between 2007 and 2011, Peterson personally contributed nearly
$500 million to his Peter G. Peterson Foundation to push Congress to cut
Social Security, Medicare and Medicaid — while providing tax breaks for
corporations and the wealthy.
Peterson’s main platform has been the
Campaign to Fix the Debt. While the campaign is portrayed as a
citizen-led effort, critics say the campaign is a front for business
groups. The campaign has direct ties to GE, JPMorgan Chase, Morgan
Stanley and Goldman Sachs. Peterson is the former chair and CEO
of Lehman Brothers and co-founder of the private equity firm, The
Blackstone Group. For more, we speak to John Nichols of The Nation and
Lisa Graves of the Center for Media and Democracy
Source
banzai7
N.B. In the UK we have taken our lead from the US (as usual) and therefore from these bankster shills. Surprise, surprise, it turns out it's another gluttonous rampage by billionaires to line their own pockets at society’s expense.
ReplyDeleteSwitch off the lame stream permanently and switch on to the debate. On the count of three you will awaken. One, two, three! ;)