(WASHINGTON, D.C.) – Today, Federal Reserve Board Chairman Alan Greenspan urged Congress to cut Social Security benefits in order to counter the escalating deficits created by the Bush Administration’s misguided tax and fiscal policies. Asked in an interview for his thoughts on the Chairman’s comments, President Bush appeared to be in agreement with Greenspan’s position.
U.S. Senator Patty Murray, who warned the Administration of this exact issue nearly two years ago, issued the following statement:
“Today, Americans learned that the Bush Administration is willing to mortgage America’s retirement security to pay for their own irresponsible fiscal policies. This is yet another example of the White House’s misplaced priorities.
Rather than backing away from a misguided economic policy that has cost millions of jobs, the Administration now appears ready to cut Social Security benefits to pay for their mistakes. This is the wrong thing to do to the millions of hardworking Americans who are currently paying into a system that they expect to be there for them in their golden years.
I am not willing to tell the people of my state that the fiscal mistakes of this Administration will be paid for on their backs. For me, protecting Social Security means keeping a promise to people who have worked their entire lives and who depend on the benefits and peace of mind it provides. Protecting Social Security well into the future is a promise that I intend to keep.”
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