In a representative democracy like America, a majority of the population chooses a leader to represent their best interests in negotiations with a hostile opposition party, and they can be likened to a labor representative negotiating for wages, working conditions, and benefits in a labor dispute, but a labor representative’s influence is limited when compared to those who hold real power, the business owners. Today, the American people’s representative, President Obama, meets with business owners who hold enormous power and wield influence over Republicans who control the fate of American workers, and before the meeting even begins, a gang of CEOs laid out an agenda that portends diminished benefits for America’s workforce. In his Inaugural Address, the President assured the people he will fight to preserve their retirement investment, and with overwhelming support from the people, he has the ability to make a strong case against the CEOs proposals.
President Obama meets with chief executives from 12 companies today to discuss immigration and deficit reduction. The CEO list features Goldman Sachs’ Lloyd Blankfein, Yahoo’s Marissa Mayer, Willard Romney’s associate Arne Sorenson of Marriott Intl, Jeff Smisek of United Continental Holdings, and Klaus Kleinfeld of Alcoa Inc, as well as seven other of the nation’s ruling oligarchy. A White House official said “The president will continue his engagement with outside leaders on a number of issues – including his efforts to achieve balanced deficit reduction,” but the gang of 12 have their own agenda, and solid support from the GOP, that is irrelevant to deficit reduction and everything to do with enriching the financial sector and eroding the worker-funded retirement and healthcare system.
Like a labor negotiation, the people overwhelmingly voiced their demands to preserve Social Security that includes increased benefits, eliminating the cap on high income earners, retire at 62, increase the cost of living allowance (COLA), and increase the payroll tax deduction to ensure they are paying for their demands. The CEOs ultimatum is raising the retirement age to 70, reducing Social Security benefits, cutting COLA, and quickly moving both worker-funded retirement programs (Social Security and Medicare) into the private financial sector as the be all, end all,
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