Trim Social Security, Greenspan Advises: ; Fed Chairman Says Cuts Would Slow Rising Deficits
Charleston Gazette (February 26, 2004)
Author: Martin Crutsinger
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WASHINGTON - Federal Reserve Chairman Alan Greenspan, stepping into the politically charged debate over Social Security, said Wednesday the country can't afford the benefits currently promised to the baby boom generation.
He urged Congress to trim those benefits to get control of soaring budget deficits, which he said threatened a "very debilitating" rise in interest rates in coming years.Trim Social Security, Greenspan Advises: ; Fed Chairman Says Cuts Would Slow Rising Deficits
Democratic presidential candidates denounced his proposals, and President Bush and other Republicans sought to distance themselves from the Republican Gr...
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