By Heather Boushey and Joshua Holland,
from AlterNet.org
cross posted at Alternet

While the rich are getting richer, they’re slashing social security, medicare and other social programs for the rest of us. What gives?

The commercial media is telling us two perfectly contradictory stories about the American economy. The first is how wonderfully rich we are in the United States. The stock market’s booming — some analysts predict the Dow will break the 15,000 this year — the economy is expanding at a healthy clip, productivity growth is up and unemployment and inflation are relatively low.

But, at the same time, we’re also told that we don’t have the money to pay for a robust social safety net. When it comes to paying for universal health coverage, affording retirement security for our elderly, investing in programs for the poor or educating our children, we need to pinch pennies. According to this story line, we face a looming “entitlement crisis” — we won’t be able to afford to keep the Baby Boomers in good health and out of poverty, we’re told, unless we slash their benefits and privatize the programs that their elderly parents enjoy today.

This is the line we hear from the administration when it talks about entitlement “reform”: Treasury Secretary Henry Paulson says that “the biggest economic issue facing our country is the growth in spending on the major entitlement programs: Medicare, Medicaid and Social Security.” The solution, according to the Heritage Foundation, is to cut entitlement spending. “Reforming Social Security, Medicare, and Medicaid is the only way to get the budget under control,” it says.

How can two narratives that are so clearly at odds with each other be so pervasive? Are we seriously supposed to believe that Paris Hilton has to dig between the cushions of her sofa to buy a can of tuna?

read more at Alternet.org

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