Wednesday, February 16, 2005

Greenspan surprises dems

Federal Reserve Chairman Alan Greenspan made his semi-annual trek to Capitol Hill today to testify before Congress. Not knowing what he might say about the Social Secuity debate, Democrats were not expected to ask many questions about the "third rail". But they did, and this is what they heard from Greenspan:
"But the demographics are inexorable, and call for action before the leading edge of baby boomer retirement becomes evident in 2008," he added.

At one point, Mr. Greenspan used language similar to what Mr. Bush has been saying of late: "It is risky doing nothing."
It should really be interesting to see how the mainstream media handle this. How many papers will print these quotes and, those that do, how far down on the page?

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