Wednesday, March 16, 2005
Greenspan says we have three years to fix social security. More troubling in my opinion is this:
"At present, the Social Security trustees estimate that the unfunded liability over the indefinite future to be $10.4 trillion," Greenspan noted in his prepared remarks. "The shortfall in Medicare is calculated at several multiples of the one in Social Security."

"These numbers suggest that either very large tax increases will be required to meet the shortfalls or benefits will have to be pared back," he said.

Not good.
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I am an attorney in Chicago. Politically speaking, I am an indepedent that tends to lean conservative on fiscal issues and progressive on social issues. I try to remain as unbiased and open-minded as possible. Please email or post any comments, and especially criticisms. If something I say is wrong, or you disagree - let me know about it!

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