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December 13, 2004
Grownup Republican Watch
An endangered species, but they are out there. You can see them if you wait totally silently in your blind in the rain for more than a week:
US News Article | Reuters.com: Fixing Social Security "should have happened already" since it was a relatively small part of the country's long-term fiscal problem, [U.S. Comptroller General] David Walker told a meeting of accountants. The real threat to the country's solvency is health care, particularly soaring costs under the Medicare health care program for the elderly, he warned. While personal investment accounts may make sense under some circumstances, comprehensive reform of the federal Social Security retirement program would mean changes, such as an increase in the retirement age or a shift in how cost-of-living adjustments are made, Walker said.
Raising the payroll taxes that finance the program could be considered, "although I would suggest you wouldn't have to," he said. "The creation of private accounts for Social Security will not deal with the solvency and sustainability of the Social Security fund," Walker told a conference of the American Institute of Certified Public Accountants.... Walker... heads the Government Accountability Office, Congress' watchdog agency....
However, they are very skittish. They will not come to be fed.
Posted by DeLong at December 13, 2004 03:30 PM
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