Wednesday, February 25, 2004

Greenspan isn't touching the third rail...

...he's slipping it the tongue:

WASHINGTON - Federal Reserve Chairman Alan Greenspan urged Congress on Wednesday to deal with the country’s escalating budget deficit by cutting benefits for future Social Security retirees. Without action, he warned, long-term interest rates would rise, seriously harming the economy.

Now I may have problems with Greenspan, but surely he is not so dense as to think cutting social security has any realistic chance of becoming a reality. What is unspoken of in this is the alternative solution: repeal or, at a minimum, let Bush's tax cuts sunset out of existence. But suggesting such would be an even worse apostasy on the right than what Greenspan is suggesting here.

Could it be that Greenspan is being deliberately obtuse about this and hoping that it will be some enterprising politician who will step into the lion's den and suggest that the tax cuts have to go? Give his past performance, I wouldn't put such cowardice past him.


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