just procrastinating

Thursday, February 26, 2004

Greenspan and Social Security
This is inevitable, but I wonder how long it will take for changes to be made:
Greenspan...said he would not change current retirees' benefits, but reminded members of Congress of two specific ways they could curtail the program's future growth.

He again recommended gradually raising the eligibility age for both Medicare and Social Security, to keep pace with the population's rising longevity. And he noted that they could link cost-of-living increases in Social Security benefits to a measure of inflation other than the consumer price index, a widely followed measure that many economists believe overstates the rise in overall prices. A measure that showed less inflation would cause benefits to rise more slowly.
If Bush makes it to a second term, he better do something about this. Sooner or later, somebody has to make the baby boomers take their medicine.

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