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What's right big news today first and foremost out of Washington that AARP.
Would drop its opposition to cutting benefits for Social Security.
This could have huge implications for the entire entitlement debate here to analyze and break it all down this major shift.
They -- big -- deputy commissioner aware the so security administration -- resident scholar.
At the American enterprise institute and there is great you to be here why now.
That AARP campaigned against President Bush's proposal to partially privatize Social Security's so.
What -- what dead difference a few years banks.
Well I think that try to maintain their relevance.
The entitlements in the budget -- an enormous issue now people know we have to fix social security and Medicare.
And even president Obama's fiscal commission.
Recommended we fix Social Security two thirds by cutting benefits.
Only 13 by raising taxes so they are.
By raising taxes.
They're not even players in the game anymore.
Even the president's council that mix of benefit cuts.
And tax increases is probably not something that that AARP will get behind because it's more benefit cuts -- not the tax increases.
Sure and I think internally they would far prefer to fix social security and Medicare as well 100% by raising taxes philosophically I don't think they've changed very much.
But I think they know if you talk to folks behind the scenes -- are the they realize it inevitably Social Security reform can be packaged deal.
And part of that package has to be reductions in benefits increases in the retirement age things like that.
The question is whether a year -- and come far enough.
To really be a relevant player in any kind of deal has hopes of -- Well they've got to worry about about getting their 37 million members onboard with this planning town hall meetings planned -- to 'cause you think back and half a or will there be a -- what -- backlash against the leadership that they are okay.
Well I I hope they can make it happen one problem is that most of the Social Security reform even the Medicare reform plans out there.
Don't really affect current retirees -- here you're retired or close to retirement your Social Security benefits are 100%.
The problem is in past fights.
AARP and other groups elect had scared seniors have told them all know these plans put your benefits at risk.
So it's a little bit difficult to come back and tell them now all don't worry about a week and cut benefits in the future it won't hurt you today so they have a mixed message to overcome.
If they can do it though I think it's good for ARP and good for the debate.
Good for the country but does anything get done before the -- -- twelve elections after.
I think it's very unlikely.
President Obama has some interest in Social Security form it's in his political interest to -- the program.
But he has never been willing to stand up to the left wing of the Democratic Party when ever he raises the issue they slap it right down -- he backs off.
He needs to show leadership or eliciting -- punted to the next president.
And your great of you to be here thank you so much incredible story -- -- -- and Interbank.
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