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Biden May Have Just DOOMED The Entire Social Security System - YouTube
Channel: The Young Turks
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president joe biden
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has made a pretty awful decision
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he has nominated a man who
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has absolutely no interest in protecting
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and bolstering the social security
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system in fact he's a man who has a long
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track record in wanting to
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privatize social security his name is
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andrew biggs
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and uh he has been nominated for a very
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very important role um he would
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essentially serve in a board that the
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president advises with
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and takes advice from
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on what to do with social security so on
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may 13th biden chose to nominate biggs
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a fellow at the right wing american
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enterprise institute it's a think tank
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for a republican seat on the bipartisan
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social security advisory board which was
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created in 1994 to consult the president
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and congress about the social security
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system
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so i'm not really interested in hearing
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from a right winger who served or worked
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for the heritage foundation on the topic
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of social security pretty sure i can
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figure out what his advice would be
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but for anyone who might be in the dark
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about the uh american enterprise
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institute let's give you a little little
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brief on who biggs is
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so the lever reports that in 2001 biggs
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was a staff analyst on george w bush's
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commission on social security that
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advocated privatizing the government
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program by shifting the program's trust
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fund investments from u.s treasury bills
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to high fee
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high risk personal accounts that seniors
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could use to invest social security
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assets in the stock and bond markets
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like employees do with their 401ks
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i don't know about you guys but uh 401ks
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relative to what pensions were like suck
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uh there's a lot more risk involved uh
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there's a lot more onus on the worker uh
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the employer you know uh get gets a
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massive break
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uh from not having to pay into a pension
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it's it has not
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ended up well for retirees and we do
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have a retirement crisis baby boomers
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even though they enjoyed economic
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prosperity and kind of screwed over our
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generation
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a lot of them don't have enough money to
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retire on
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that is an issue
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and this guy's solution was
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let's introduce more risk let's
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privatize it
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and biden looked at that guy and thought
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nailed it i'm going to put you on my
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advisory board what are you doing biden
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in 2013 biggs justified the idea of
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raising the retirement age for social
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security benefits by saying that
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americans
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biggest
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americans biggest on-the-job risk you
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know carpal tunnel syndrome from your
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mouse or something like that
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uh i'm pretty sure there are a lot of
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americans that are suffering from other
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ailments related to the work that they
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do um
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not just physical by the way mental
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health issues as well
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but let me continue reporters over at
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the lever also reached out to him uh to
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get some clarity on where he stands on
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the issue of social security remember
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social security
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was put in place to prevent elderly
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people from
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like insane poverty and homelessness
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and uh
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it's not a popular position to want to
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privatize social security social
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security and medicare super super
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popular so when the lever reached out to
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him to get some clarity on where he
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stands
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he took a page out of trump's book and
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was like denied denied no me what me i
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had to change a heart i swear
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even though i gave a speech not too long
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ago talking about how we need to
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privatize this he even gave a talk
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recently i was watching on youtube where
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he wanted to make it a lot more
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difficult for people to
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get disability benefits and argue that a
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lot of people
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receiving disability benefits are
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essentially liars and they can go back
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to work that's that's who this guy is
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that's who andrew biggs is
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he has dismissed the retirement crisis
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as a non-issue and as recently as 2020
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blamed problems with the social security
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system on older americans game of
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chicken
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and two decades ago biggs worked on a
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bush administration commission that
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pushed to privatize social security
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and uh when uh the reporters over at the
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lever reached out to him he denied it
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instead he said he now believes that
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uh the nation's social security-like
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programs should be more focused on
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guaranteeing against poverty in old age
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while middle and high income individuals
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take on greater responsibility for let's
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just stop when he says middle and high
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income earners he's just he's talking
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about working americans okay he's being
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very
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careful with his wording here but anyone
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who has to work for their living you
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know people who aren't just investors
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who get to sit around and collect money
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you know either from their investment or
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from being a landlord like that's not
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who he's talking about here he's
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specifically talking about working
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people okay many of whom do not have
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anything near what's necessary to be
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able to retire they are not on track to
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retire comfortably but let me continue
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take on greater responsibility for
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saving for retirement on their own such
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as by the government establishing
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universal retirement savings accounts
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for every worker
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yeah the social security model has
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worked out pretty well um and if
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anyone's concerned about whether or not
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we have enough resources to keep it
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going you could just lift
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the social security tax cap which this
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year is about one hundred thirty seven
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thousand dollars so people earning over
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a hundred thirty seven thousand dollars
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they no longer get taxed for social
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security for income above that just lift
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it
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just lift it
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it's super regressive to have a cap that
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only benefits high earners in the
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country but of course he's not
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advocating for that the guys from the
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american enterprise institute finally
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biden didn't even have to pick this guy
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so that advisory board is
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traditionally bipartisan right
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but
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there's no law forcing the president of
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the united states to make it bipartisan
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in fact
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donald trump refused to nominate a
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single democrat a single liberal to that
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advisory board not one
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but biden like a good boy
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you know
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make sure you
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do right by your uh wall street donors
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who you told you know
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nothing will fundamentally change under
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my watch
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good boy gotta pick andrew biggs the guy
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who is on the record in
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endless talks that you can watch
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yourself
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on youtube advocating for the
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privatization of one of the most popular
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social spending programs in this country
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social security and then biden turns
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around and asks himself along with the
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democratic party overall
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why is my approval rating so low what's
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going on
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i don't get it
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well you're telling the american people
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you don't care about them
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by rubbing shoulders with clowns like
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this chump
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there are consequences for your actions
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and he deserves the low approval ratings
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that he's suffering from as we speak
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