Greenspan likes SS private accounts, but dislikes increased debt.

[heidler1]

This whole pitch has come around to coning people into thinking it would be a better savings incentive to have SS private accounts thus encouraging savings that have nose dived under Bush. They might better try raising yields on regular saving accounts. Next they'll bring up having a private lock box for part of your savings, but leave out the fact that you don't get to have a key to your lock box because they don't trust you. The way they will screw you out of what's in your lock box is by either devaluing the dollars that you put in there or inflating the value of what you will buy with those dollars. SS money is protected by cost of living yearly increases and the lock box isn't.

[RobertSeattle]

1. He's losing all credibility. CalPundit had a great summary back in 2004

http://www.washingtonmonthly.com/archives/individual/2004_02/003383.php

1983: Recommended raising payroll taxes far above the amount required to fund Social Security. Since payroll taxes are capped (at $87,000 currently), this was, by definition, an increase that primarily hit the poor and middle class.

2001: Enthusiastically endorsed a tax cut aimed primarily at people who earn over $200,000.

2003: Ditto.

2004: Told Congress that due to persistent deficits Social Security benefits need to be cut.

[Vincardog]

2. The way to increase savings might be to get enough people

paid enough that they could afford to save. Don't ya think?

[IrateCitizen]

3. Fuck Greenspan.

Seriously, fuck him. He's a prime reason we're in the mess we're in. If he actually gave a shit about ANYTHING other than the bond traders, and actually proposed an economic policy that was based on something other than citizens taking on increasing household debt in order to just keep the economy going, we might not be in such an economic pickle.

IMHO, Alan Greenspan is one of the most overrated people in Washington. And his ineptitude is now beginning to show, after policies he championed throughout the 1990's and since are beginning to come back and bite us in the collective ass.

[displacedtexan]

4. I like Ben & Jerry's, but I don't like heart attacks.

Makes about as much sense as Mr. Andrea Mitchell's husband's statement, doesn't it?

[indepat]

5. Guess Greenspan does not mind the trillions of dollars of debt tax cuts

are creating nor ultimate the multi-trillion dollar raid on the mythical SS lockbox to help fund those tax cuts. That's good debt and fine public policy.

[asjr]

6. That old Republican fart needs to retire. He does do double-speak

quite well though.

[Warpy]

7. That old fart hates a SOCIALIST PROGRAM

that managed to do exactly what it was supposed to for seventy years, even after the rich had exempted themselves from supporting it and even after Congress had robbed it for decades.

Greenspan is an enemy of the American people who hates to see any working person get a raise and who hates anything that lets old people live in a little dignity.

I am generally a peaceful person, but the only way I can ever watch that dreadful excuse for a human being is to imagine him in a tumbril, being rolled off to a quick dispatch at the hands of all the people he has harmed.