Greenspan told Congress on Wednesday that soaring budget deficits from out-of-control entitlement programs could lead to a "very debilitating" rise in interest rates and threaten the economy in coming years.
Democratic front-runner Sen. John Kerry said the way to address the deficit was to roll back tax cuts for the wealthy and "the wrong way to cut the deficit is to cut Social Security benefits. If I'm president, we're simply not going to do it."
If you developed a pyramid scheme through the mail using the rules of Social Security, you would be arrested for mail fraud. Only fools and drunks think this system is solvent. I won't ever see any of the money I poured into it.
You have to love Kerry's solution. There's not a problem in the world that can't be solved by raising a rich person's taxes. It’s getting tired, though. Let’s make the rich dress up like working class people and stand in line at the DMV. Then they can make us a sandwich and mow our lawn.
