BlogPAC, a coalition of Democratic bloggers and blog readers has launched an online media campaign charging that the Bush administration is manufacturing a phony crisis in order to hand over the Social Security trust fund to the stock market and big financial institutions. The group is a registered political action commitee that supported a number of Democratic candidates for the House and Senate last year.

The group’s campaign web site is devoted to providing such resources for the fight as links to useful articles and a “Wall of Shame” to track the perpetuators of “the deceptive myth that theres a ‘crisis’ with our system of Social Security. This includes journalists, public servants and other people who should know better.”

“Fact is, there is no crisis,” said Markos Moulistas of The Daily Kos. “And there is no projected crisis anytime in the near future. Or far future. The GOP has always hated social security, and now they see a chance to do something about it.”

“BlogPac,” according to their press release, “was borne from those who spend their times online and embrace participatory media and politics, we will use online tools and technologies to further the cause of progressive politics in our nation. BlogPac is, indeed, the first PAC to wage politics entirely online. Blogpac intends to distribute and sell downloadable materials, bumper stickers and encourage grassroots groups to engage in local activism on their own.”

In addition to the interactive web site, BlogPac plans to air radio spots in which they show how the supposed crisis in Social Security is “as phony as Iraq’s supposed Weapons of Mass Destruction Program.”

One of the ads, titled “Fraud” states:

“Social Security makes sure our nation’s elderly can retire with income. Now President Bush and the Republican leadership want to gamble away our benefits — and line their own pockets with our hard-earned dollars.

Social Security is financially sound. But Bush and his cronies want us to believe there is a crisis. They are even using taxpayer dollars — our retirement money they hold in trust — to pay for an advertising campaign to convince us theres a crisis.

Bush wants to reduce benefits and gamble our money in the stock market by paying billions to the big investment firms that are among his biggest campaign contributors.

This is fraud.

Dont let them get away with it. Go to ThereIsNoCrisis.com for more information.”

BlogPac is raising money to air the radio spots. Contributions can be made through the campaign web site.