February 26, 2004
NOT EVEN WORTH THE EFFORT?:
Social Security Cuts Necessary, Greenspan Says: Action is needed 'as soon as possible' to address deficits and demographic changes, the Fed chief tells Congress. His remarks revive a volatile issue. (Edwin Chen, February 26, 2004, LA Times)
Sen. Lindsey O. Graham (R-S.C.), another private accounts proponent, said Greenspan's testimony was a call to action. "He has made demagoguing reform less attractive," Graham said in an interview.But analysts were not so sure.
Several said that because Bush has antagonized Democrats in the last three years, the necessary bipartisan cooperation on the issue seems unattainable, especially in this election year.
"He's got to get Democrats to believe they can trust him," said former Democratic Sen. Bob Kerrey of Nebraska, now president of the New School for Social Research in New York. "But Democrats are feeling very burned."
Ever get the feeling that the media has become so biased that they don't even bother pretending they aren't anymore? Can you imagine Mr. Chen citing Newt Gingrich as merely an "analyst"? Posted by Orrin Judd at February 26, 2004 11:35 AM
On another site the blogger (lefty) indicated that Greenspan's comments were a scathing indictment of Bush's lack of attention to Social Security. The bulk of the commentors pointed out that Bush has been talking reform/privatization of SS since the '00 election and it appears will do so again in '04 while the Dems simply argue against any action.
The GOP needs to pick up 4+ Senate seats and some House seats and then they can pass some reform after the election as most Dems vote against any reform simply to prevent Bush from having a "win"
SS reform IS unobtainable in an election year - But, Bush won't try to do it this year.
Posted by: Michael Herdegen at February 26, 2004 11:16 PM