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02/25/2004 Archived Entry: "A Greenspanner in the works."
A Greenspanner in the works.
Everyone seems to be caught off guard by Alan Greenspan's comments this morning regarding the need to pay immediate attention to the deficit.
While Greenspan is right about sounding the alarm on this, his 'solution' is completely and utterly wrong.
Federal Reserve Chairman Alan Greenspan urged Congress on Wednesday to deal with the country's escalating budget deficit by cutting benefits for future Social Security retirees. Without action, he warned, long-term interest rates would rise, seriously harming the economy.In testimony before the House Budget Committee, Greenspan said the current deficit situation, with a projected record red ink of $521 billion this year, will worsen dramatically once the baby boom generation starts becoming eligible for Social Security benefits in just four years.
I would think that rolling back some of Bush's insane tax cuts would be a better solution than telling boomers that they should work harder, retire later, and expect less benefits once they hit retirement.
Greenspan, I believe, has gone insane - just like the rest of the greedheads who are deciding the future of this country.
Replies: 6 people speak up
This is WAY off-topic, but I just read this news story and couldn't help connecting some dots.
http://story.news.yahoo.com/news?tmpl=story&cid=519&e=1&u=/ap/human_trafficking
Two of the three states where this is a major problem--Texas and Florida. Two states where Bushes are have massive amounts of poser--Texas and Florida. And just a few weeks ago the Bush in the White House proposes easing the restrictions on illegal immigrants. What was that song from the early 90's? Oh, yeah. "Things That Make You Go Hmmmmm..."
Posted by The Tater @ 02/25/2004 12:39 PM NY
Yup, Greenspan bought into the "starve the beast" strategy of the right wing wackos. The fiscal mess is the result of massive tax cuts for the wealthy and a misguided war that distracted us from the war on terra. Yet, here we are listening to "solutions" that have nothing to do with the source of the problem. Thanks, Al.
Posted by Mike @ 02/25/2004 12:41 PM NY
Sorry for the typo. Usually I'm so adamant about proofreading. The Bushes have POWER in those two states, not POSER.
Then again, if the shoe fits...
Posted by The Tater @ 02/25/2004 12:41 PM NY
This is getting crazy (did I say GETTING?) Everyday it's something else. End Civil Liberties and Freedom of Speech...Amend the Constitution... Fill in canyons between the US & Mexico; build a fence along the border to the tune of $58 million. (why not cut THAT program?) how many things are going on that we DON'T hear about? I fear we are just seeing the tip of the iceberg.
Posted by Allison @ 02/25/2004 12:57 PM NY
Allison, the secrets are bound to be horrible, too, and we'll never know about them until the next President rescinds Bush's Executive Order to keep secret all Presidential confidential documents and acts. The stuff we can actually see is horrifying enough; I have been saying for years that I'm afraid to know what this fuck has been doing in SECRET for the last three years.
Along the same lines, again, I also have been saying all day that Alan Greenspan has officially been stricken with Alzheimer's disease. Yesterday's statements PROVE it.
Later,
Posted by Daddy-O @ 02/26/2004 11:15 AM NY
Your missing the beautiful point here... it doesn’t matter what solution Greenspan is proposing, what is important is that it is getting so much airtime. Baby boomers vote (unlike my pathetic generation). The fact that he makes it all sound so apocalyptic is really good for our side. IE the entire country is about to collapse because of the deficit, and its so bad that we are taking away your social security.... that will cost Bu$h some votes, or do you really think that we are that bad off that NO ONE is even paying attention any more?
Posted by justin @ 02/26/2004 01:25 PM NY
