This Real News Network interview with Bill Black provides an overview of why Wall Street and the Administration are so keen to gut well loved and socially valuable safety nets for the elderly, in particular, Social Security. This talk is a good introduction for people who may not understand how high the stakes in the budget fight are and why the economic arguments used to justify it are bogus.

Paul Jay peculiarly brings up Elizabeth Warren as a potential opponent to this initiative. Given the fact that her Senate run was a Democratic party idea, and that she was remarkably tongue tied in her first press conference, I would not expect her to take any bold moves soon.