August 27, 2004

The New York Times > AP > Business > Greenspan Issues Warning on Retirement Benefits

Mr. Greenspan is absolutely right about the BIG issue facing 70 million Americans, Social Security and Medicare is unsustainable. What say you President Bush and Mr. Kerry? Is this a campaign issue or not? Perhaps there's a 527 group out there somewhere that would run ads that the media talking heads and robotic writers would pay some attention to.

Let's see now:
+Most companies want to ditch defined benefit plans
+Airlines want to ditch or severely reduce their pension funds
+Republicans want to privatize some part of Social Security
+Democrats want to do nothing or increase benefits
+Both parties have signed on to a Medicare prescription drug benefit
+Neither is willing to do much of anything about illegal immigration (perhaps these workers will be the SS payers for the Baby boomers if we make them legal!)
Post a Comment