Independent Conn. Senate Candidate Warren Mosler Signs Pledge to Vote Against Any Cuts in Social Security or Medicare

Middletown, Conn. (June, 2010) –Warren Mosler, a leading voice in the fight against the Congressional bipartisan move to slash Social Security and Medicare, has signed a University of Missouri Kansas City (UMKC) economics department pledge to never vote for any reductions in Social Security or Medicare benefits, or any delays in eligibility.

“There is no food shortage, no housing shortage, and no shortage of labor or anything else needed to sustain our seniors at a level that makes us proud to be Americans,” said Mosler. “It’s the ‘flat Earth’ economists who don’t understand monetary operations that are leading the charge to slash benefits and delay eligibility.”

Mosler’s first proposal to fix the U.S. economy is a full payroll (FICA) tax holiday, which would increase the take home pay of Americans earning $50,000/year by approximately $325 per month.

“We lost over eight million jobs mainly because sales fell off, and a full payroll tax holiday will restore the sales needed to get those jobs back, and more,” continued Mosler. “The unemployment lines tell us we are grossly over taxed even for the current too high level of government spending.  The $500 billion in Medicare cuts claimed by the Democrats in the health care bill was a mistake, a disgrace, and an insult to our seniors, as well as our doctors, nurses, and other healthcare professionals.”

Mosler further notes that the new bipartisan ‘National Commission on Fiscal Responsibility and Reform’ is now tackling the so called Social Security ‘solvency problem,’ directly contradicting Federal Reserve Bank Chairmen Bernanke and Greenspan, as well as David Walker of the Peterson Foundation.  All three  have publicly testified that, operationally, the U.S. Government can always make all payments in a timely manner, and, therefore, there is no such thing as a solvency problem for US Government obligations of any kind.

Mosler, with 37 years of experience as a fund manager and ‘insider’ in monetary operations, is running as a matter of conscience to promote his agenda to fix the U.S. economy, restore America’s prosperity, and preserve Social Security and Medicare.

See www.moslerforsenate.com and for details on the new pledge, Mosler’s economic proposals, and his million dollar challenge.