Greenspan Urges Reinstating Budget Rules [advocates SS cuts!] [View All]

[mumon]

Federal Reserve Chairman Alan Greenspan said Thursday Congress should reinstate budget rules that would force lawmakers to cover the estimated $1 trillion that it will cost to make President Bush's tax cuts permanent.

Greenspan said he favored reductions in government spending to pay for making the tax cuts permanent and suggested that one place to look should be in reducing the Social Security benefits paid to retirees.

Appearing before the Senate Banking Committee, Greenspan said he has been urging since the fall of 2002 that budget rules known as pay-go -- which require any tax cuts or increases in government entitlement spending be paid for by either raising taxes in other areas or cutting government spending -- be reinstated....


Greenspan, who chaired a Social Security commission during the Reagan administration, said that he ``strongly advocated'' indexing the retirement age to measurements that would capture longer life spans, forcing current workers to work longer before becoming eligible for Social Security benefits.




Wow! That's great- old people can eat cat food to pay for the Big Bush Tax giveaway!

It's time to sue that old codger for malpractice, and leave him with nothing but Social Security to live on.