Friday, February 18, 2005
GREENSPAN SUPPORTS PRIVATE ACCOUNTS
I LOVE THIS!!! Federal Reserve Chairman Alan Greenspan, the most bipartisanly respected person on economic matters in the government, testified to Congress that using Social Security taxes to fund private accounts is a GOOD THING! Of course, the mainstream media has emphasized his caution to do it slowly, and concern about the debt it will incur. His actual testimony hit on all the notes that Pres. Bush hits: fostering "ownership"; being able to pass the whole thing on to your survivors; the better rate of return than the current system. He said one line that I find the perfect rebuttal to two frquent Democrat talking points: "It's risky to do nothing". This beats the Dems arguments that Soc. Sec. is not in crisis and that the stock market and other private investments are risky. After so many years of the Dems twisting his usually cryptic remarks to their advantage, I don't see them getting around the thrust of his remarks this time. The Republicans will be quoting him and using tape of him in their promotion of this sensible policy! Write your representatives and tell them you want a personal savings account!