Political Quotes

“If I might continue, in the same book, it notes Chairman Greenspan and Treasury Secretary O'Neill had several ideas. One of them was a trigger which said there will not be any tax cuts if the surplus disappears. The surplus is long gone. Later Lindsay and other economic advisers, including the President, resisted this idea of trigger. Second, the book notes it was the plan of Chairman Greenspan to take $1 trillion out of the surplus and frankly make certain Social Security would be stronger for that much longer period of time. Yet we now have this same Chairman of the Federal Reserve who is telling us that absent both of those happening, he now has the solution, and the solution is a later retirement age and cutting the benefits out of Social Security to pay for the Bush deficit created by the Bush tax cuts for wealthy people. How can it be fair to senior citizens who paid into Social Security their entire lives, who receive rather modest returns for that, to be told they should receive even less so people in the highest income categories can end up receiving these Bush tax cuts? If I am not mistaken, this warped logic is continued by the Republican budget which is presented in the Senate.”