Monday, March 07, 2005

Alan Greenspan ...partisan hack?

For brevity's sake, the Chairman of the Federal Reserve Alan Greenspan is not a partisan hack. Sen. Harry Reid (D-Nev.), however, is.

Sen. Chuck Hagel (R-Neb.) has unveiled his own Social Security plan, which would include the following:
No changes for Americans over 44.
People 44 and younger could "voluntarily divert" payroll taxes to "personal savings accounts invested in the financial markets and government securities."
Retirement age would "rise to 68."
Early retirees "could still get a reduced benefit starting at 62, but it would decrease from 70% to 63% of the full benefit."
Starting in '23, "retirees would receive a base payment adjusted for life expectancy," which Hagel says would "slow payment increases."
"No taxes would increase"

(from the Omaha World-Herald)

And our favorite Californian, Sen. Barbara Boxer, just won't stop:

"So the fact is we're not going to add to the debt. What we're going to do is continue what we've done in the past, make Social Security a pay-as-you-go program and follow the lead of the American people. They've been asked these questions. They come back very strongly. Yes, let's go to the wealthiest of Americans and let's ask them to do a little bit more" ("Face the Nation," CBS, 3/6).

...Read More!


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