OweNo, $20 Million Campaign With Bayh And Conrad As Allies, Is First Salvo In Social Security Fight http://www.huffingtonpost.com/2010/11/09/first-salvo-in-social-sec_n_781151.htmlvideo at link
In what may be the first major move of the forthcoming Social Security debate, the Peterson Foundation launched on Tuesday a $20 million TV ad campaign to promote the need for a major discussion on debt and deficit reduction.
Titled "OweNo", the campaign, which promotes a mock presidential candidate irreverently named Hugh Jidette (get it? Huge debt), doesn't take on Social Security reform directly. But the connections are fairly obvious and it has the program's defenders deeply wary about being outgunned. The Peterson Foundation, for one, has never shied away from its push to reform the entitlement program. And in introducing the $20 million effort, the organization's founder, former Nixon commerce secretary and fiscal conservative Pete Peterson made it abundantly clear that Social Security is in his sights.
"Solving our fiscal issues without fundamental entitlement reform is a statistical impossibility," he said. "Entitlement reform must provide benefits for the most vulnerable. But if we wait too long to reform and we confront a crisis, the politics may become brutal and even violent and in such a situation there would be no assurance that the safety net, even for the most vulnerable, might not be seriously frayed."
Perhaps the most frightening part of the unveiling, however, is that Peterson -- long a scourge of progressives for having earned hundreds of millions in the hedge fund business while preaching financial sacrifice for others -- has prominent Democrats backing his latest campaign. Appearing alongside him at the Newsuem on Tuesday morning was outgoing Sen. Evan Bayh (D-Ind.) and Budget Committee Chair Sen. Kent Conrad (D-N.D.).
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