Greenspan Urges Pension Benefit Cuts
JACKSON HOLE, Wyo., Aug. 27 -- Federal Reserve Chairman Alan Greenspan today urged Washington policymakers to consider scaling back future federal retirement benefits, saying that the nation has probably promised more than the economy can realistically deliver.Wake up folks, that includes you Red Necks and Right Wing Christians, the Republican party and the Bush administration are out to screw you.
Greenspan, himself, appeared to have pulled back from his more forceful comments on Capitol Hill earlier this year, in which he clearly called for restraining the growth in Social Security and Medicare spending by reducing benefits for future retirees. Those remarks, although echoes of warnings he has made for years, prompted a barrage of criticism, in large part because of the sensitivity of the topic in a presidential election year.
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