TIME GOES BY | GRAY MATTERS: Pete Peterson on Threats on Social Security

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by Pulitzer Prize-winning journalist Saul Friedman

Pete Peterson is still at it, and he’s still wrong. He’s the billionaire financier who, along with his Wall Street buddies watched the economy burn, let dozens of old companies go bankrupt, a couple of hundred banks close and millions of people get thrown out of work.

Yet here he is again, as I remember him more than a decade ago, crusading with his billions to cut the Social Security benefits, disability and survivor insurance payments for millions of Americans because he believes that the $120 or so a month that they get will break the United States.

But this time, alas, his hopes to slash and burn the social insurance contracts with America, are getting some sympathy in the Congress and even the White House, more on which in a moment.

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