Greenspan Urges Social Security Action

[Jon8503]

WASHINGTON — Fed Chairman Alan Greenspan, delivering his semiannual assessment of the economy to the Senate Banking Committee, gave a cautious endorsement today to President Bush's plan to shift some Social Security funding to individual investment accounts.

Any solution to the problem created by the baby boom's impending retirement has to be solved by increased national wealth, he said, which in turn depends on increased savings or investment.

The individual investment accounts would contribute to national savings only if they could be financed by methods other than borrowing, and in order to slow the rate of borrowing by Social Security, benefits would have to be trimmed, Greenspan said.

http://www.latimes.com/business/la-021605greenspan_lat,0,455347.story?coll=la-home-headlines

[Bush_Eats_Beef]

1. An ugent call for "increased national wealth"...

...for the members of Bush's "base."

MORE Faberge Eggs, DAMMIT! And bring me some more toast points for my Beluga!



:grr:

[liberal N proud]

2. Let's see mr geenspam...

To increase the national wealth depends on increased savings or investment?
So lets take away the security blanket of Social Security and expect everyone to invest "WISELY" in get rich quick schemes that will leave everyone who is not wise with money on the street.

[natrat]

3. wow what an old shrivled up whore

[Ganja Ninja]

4. WTF is he taking about?

"in order to slow the rate of borrowing by Social Security, benefits would have to be trimmed"

Social Security is in surplus until 2018 and has a trust fund that will last until 2052.

[CindyDale]

5. Any solution has to be solved?

OK, to summarize what Bush and Greenspan have said:

The solution to be solved that will fix the red when there is no more to borrow is to increase the wealth and trim benefits. This is very complicated and difficult to explain. Does it make sense?

[LynnTheDem]

6. There they go LYING again. "Benefits trimmed" = benefits CUT, America.

BUSH IS TRYING TO CUT YOUR SOCIAL SECURITY BENEFITS, PEOPLE.

Remember how Iraq "wouldn't burden the American tax payer"??? Now at $300 BILLION American tax payer's money gone.

You're going to trust this FRAUDULANT LYING CONNIVING CRIMINAL???

Good luck with your garbage can retirement. ;)

[Postman]

7. Greenspan a fan of Ayn Rand...

need I say anymore?

What a wackjob.