Aug

28

Greenspan: Let’s keep phasing out Social Security

Everyone’s favourite central Banker gave testimony today that Social Security and Medicare are in trouble and that benefits should be cut back, perhaps by raising the age at which they kick in.

This is tiresome. Perhaps Greenspan thinks we don’t remeber that he was the one who provided ideological cover for Bush’s disastrous tax cuts for the rich in 2001? Perhaps he thinks we don’t understand that conflating Medicare and Social Security is bullshit, because one is not in much trouble (Social Security) and the other one is (Medicare)? Perhaps he thinks we can’t add and subtract. Perhaps he thinks we don’t remember that in the eighties he’s the one who “fixed” Social Security - by raising payroll taxes only to then provide cover for the tax cuts without which “fixing” SS and Medicare would be a lot less painful?

[BOPnews]

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