Wednesday, March 02, 2005

Greenspan Calls for Social Security Reform

Originally posted at GeoBandy:

As I have previously argued on this blog and elsewhere, the Social Security problem is real, and serious, and doing nothing is just not an option. But you don’t have to take my word for it. You could just ask Federal Reserve Chairman Alan Greenspan, as reported in USA TODAY:

Federal Reserve Chairman Alan Greenspan urged Congress Wednesday to move quickly to fix financing problems in Social Security and Medicare, arguing that delay will only make the country's budget problems more severe.

"The one certainty is that the resolution of the nation's unprecedented demographic challenge will require hard choices and that the future performance of the economy will depend on those choices," Greenspan told the House Budget Committee.

Not only does Greenspan’s position support the argument, repeatedly made at this site, that the demographics demand action, but he also argues, as has this site, that the private accounts endorsed by President Bush are a good idea, but only a start:

He again endorsed the key part of President Bush's Social Security plan, to set up private accounts, but he stressed that much more needed to be done to put the giant retirement program and Medicare, which he said faced even more severe financial strains, on a more sound footing.

DO NOT LISTEN to the “head-in-the-sand, no problem” liberals like Dennis Kucinich. They are full of crap, and they know it. They just hope you don’t know it. They are playing political games with our future…and our children’s future. CONTACT your congressional representatives and senators…demand that action be taken on Social Security reform.

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