Greenspan to Congress: Cut Social Security Benefits, Raise Age Requirement February 25, 2004
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Greenspan to Congress: Cut Social Security Benefits, Raise Age Requirement

The handwriting is on the wall when the Fed Chairman talks about cutting Social Security. How much more prompting will the American populace require to learn the truth behind the income tax, and quit the Social "Security" Scam? To quote Greenspan... "For a variety of reasons, that action is better taken as soon as possible."

Greenspan urges Congress to deal with deficit by cutting future Social Security benefits: WASHINGTON (AP) -- Federal Reserve Chairman Alan Greenspan urged Congress on Wednesday to deal with the country's escalating budget deficit by cutting benefits for future Social Security retirees rather than raising taxes.
In testimony before the House Budget Committee, Greenspan said the current deficit situation, with a projected record red ink of $521 billion this year, will worsen dramatically once the baby boom generation starts becoming eligible for Social Security benefits in just four years.
He said the prospect of the retirement of 77 million baby boomers will radically change the mix of people working and paying into the Social Security retirement fund and those drawing benefits from the fund.
"This dramatic demographic change is certain to place enormous demands on our nation's resources -- demands we will almost surely be unable to meet unless action is taken," Greenspan said. "For a variety of reasons, that action is better taken as soon as possible."

But while Greenspan urged urgency, Congress is unlikely to take up the controversial issue of cutting Social Security benefits in an election year

For the full story and reader commentary visit:
http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=38708

"The falsification of history has done more to impede human development than any one thing known to mankind." -- Rousseau

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