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American Prospects

Remember Your Salary Doubling? Oh Wait...

January 25, 2013

Brace yourself. In coming weeks you?ll hear there?s no serious alternative to cuttingSocial Security and Medicare, raising taxes on the middle class, and decimating what?s left of the federal government?s discretionary spending on everything from education and job training to highways and basic research.

?We?must make these sacrifices, it will be said, in order to deal with our mushrooming budget deficit and cumulative debt.

But most of the people who are making this argument arevery wealthy or are sponsored by the very wealthy: Wall Street moguls like Pete Peterson and his ?Fix

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