Greenspan Strikes Again, But Will Anyone Strike Back?

Greenspan: Trim Social Security

Greenspan let his inner Randian/Social Darwinist out yesterday and said that cuts in future Social Security benefits should be implemented soon. He based this claim on the need to give workers time to adjust their savings plans to accodomate smaller social security benefits. While, Greenspan raises a good (but painfully obvious point), that the sooner we come up with a solution for the impending social security squeeze, the better his comments don't make a lot of sense. In the first place, only a libertarian zealot would really think that the slightest increase in taxes would horribly damage the economy and that tax are automatically good for the economy, but thisseems to be just what Greenspan believes. From this false assumption, Greenspan is able to justify screwing over lower-income Americans (who would have the most to lose from cuts to Social Security benefits). However, what makes Allen Greenspan's comments really rich is that he is the same Fed Chairman that was so worried about projected budget surpluses in 2000 and 2001, that he supported the Bush tax cuts as way to defuse the "crisis". Funny how he didn't think it was time to address the social security problem then.

Oh yes, I am in full agreement with Hesoid that Greenspan should not be re-appointed next year. I doubt its politically feasible, but it would be great if someone would fire this HACK.