Thursday, December 02, 2004

Stealing Our Money: Bush Advisor Says There Will be Social Security Cuts

From The New York Times:

Calling the current system of Social Security benefits unsustainable, a top economic adviser to President Bush on Thursday strongly implied that any overhaul of the system would have to include major cuts in guaranteed benefits for future retirees.

"Let me state clearly that there are no free lunches here," said N. Gregory Mankiw, chairman of the Council of Economic Advisers, at a conference on tax policy here.

Characteristically, the Times didn't bother to point out that Mankiw lied when he referred to "free lunches": the benefits he's talking about serve only to make up for the payroll taxes that we have been paying all our lives.


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