Pete Peterson Meets St. Peter

Robert Kuttner

Robert Kuttner Co-Founder and Co-Editor, The American Prospect

Name, Please?

Peter G. Peterson.

And what makes you think you deserve admission to the Pearly Gates?

I’ve led a virtuous life, made billions, and gave most of it to charity.

What sort of charity?

Well, I gave over $1 billion to create the Peter G. Peterson Foundation, to warn Americans about the dangers of deficits and debts, and the excesses of Social Security and Medicare.

Yes? And where’s the charity part?

Too much spending will bankrupt America, especially the dreams of the young.

I’m just a saint, not an economist. But are you saying that it’s Social Security and Medicare that are destroying the life chances of the young, rather than—oh, I don’t know—college debt, insecure jobs, unaffordable housing, the very rich taking more than their share?

My one regret on Earth was that the young people just wouldn’t listen to what I was telling them.

And where did you say you made your money?

That would be private equity.

We have a saying around here: It’s easier for a camel to go through the eye of a needle than—

I know … than for a rich man to enter the Kingdom of Heaven.

You’ve heard that one.

Yes, and I thought that if I just warned people against the perils of Social Security and Medicare, the Almighty would appreciate my virtue.

It’s kind of a stretch, Pete.

Well, do you mind if I ask you a few questions?

Sure, fire away.

It looks pretty fine up here. Who pays for all of this?

The Almighty forgives us our debts, as we forgive our debtors.

Don’t you think that’s kind of profligate?

Well, we do have other, more austere quarters that might suit you a lot better.

***

Reposted from The American Prospect.

Robert Kuttner's new book is Debtors' Prison: The Politics of Austerity Versus Possibility. He is co-editor of The American Prospect and a senior Fellow at Demos, and teaches at Brandeis University's Heller School.

Posted In: Allied Approaches

Union Matters

Labor Wins

From the AFL-CIO

On Tuesday, the labor movement drove historic wins for pro-worker candidates like Governor-Elect Andy Beshear in Kentucky and new legislative majorities in Virginia. Not only did union members come out to vote in droves, 270 union member candidates were elected to public office last night and counting. This adds to the total of more than 900 union members elected up and down the ballot in last year’s midterms, a product of the Union Member Candidate Program launched by the AFL-CIO just two years ago. The share of union members who won in the 2018 midterms is two-thirds. The program will continue through 2020 and beyond, electing even more union members to public office. 

“Our efforts recruiting, training and supporting labor candidates have led to the passage of pro-worker legislation from coast to coast and everywhere in between,” AFL-CIO President Richard Trumka said.

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