Zeev's Turnips Patch-No Politics (ZEEV)

[Alex G]

Counting on SS benefits?... Greenspan sez you're screwed... so you thought you were going to get what was promised you?... too bad, so sad... we had better things to do with your retirement money, a good old-fashioned war and tax breaks for the upper echelon

http://www.washingtonpost.com/wp-dyn/articles/A40077-2004Aug27.html

Greenspan Urges Look At Senior Benefit Costs
Adjust Programs Soon, Fed Chief Says

By Nell Henderson
Washington Post Staff Writer
Saturday, August 28, 2004; Page E01

JACKSON HOLE, Wyo., Aug. 27 -- Federal Reserve Chairman Alan Greenspan on Friday urged Washington policymakers to consider reducing future Social Security and Medicare benefits, saying that the nation has probably promised more to upcoming retirees than the economy can realistically deliver.

"If we have promised more than our economy has the ability to deliver to retirees, . . . as I fear we may have, we must recalibrate our public programs so that pending retirees have time to adjust," Greenspan said in remarks to a conference here on the impact of global population changes. "If we delay, the adjustments could be abrupt and painful..."