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Vicious Ideologue Renews Attack on Social Security Billionaire investment banker Peter Peterson is back on the warpath. He just established a new foundation with a $1 billion endowment, the main purpose of which is to cut back spending on Social Security, Medicare and Medicaid. These programs, which provide an essential safety net to virtually the entire country, are hugely popular and will be politically difficult to cut. Nonetheless, $1 billion is a lot of money. Therefore, Peterson's campaign deserves to be taken seriously.

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Vicious Ideologue Renews Attack on Social Security

Billionaire investment banker Peter Peterson is back on the warpath. He just established a new foundation with a $1 billion endowment, the main purpose of which is to cut back spending on Social Security, Medicare and Medicaid.

These programs, which provide an essential safety net to virtually the entire country, are hugely popular and will be politically difficult to cut. Nonetheless, $1 billion is a lot of money. Therefore, Peterson's campaign deserves to be taken seriously.