Greenspan Cautions on Baby Boomer Benefits
Greenspan Cautions on Baby Boomer Benefits
JACKSON, Wyo. (AP) - Federal Reserve Chairman Alan Greenspan said Friday that the country will face "abrupt and painful" choices if Congress does not move quickly to trim the Social Security and Medicare benefits that have been promised to the baby boom generation.
http://apnews.myway.com/article/20040827/D84NOTE01.html
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Greenspan Cautions on Baby Boomer Benefits
Interesting to see the same debate we are having. I always thought the US had no kind of social security sytem. If you were poor or down on your luck then tough.
Greenspan Cautions on Baby Boomer Benefits
Actually, there are a ton of services. Food stamps, welfare, section 8 housing, and more than I can quote here.
The difference nowadays, however, is that the system actually weans the welfare recipients off the system. There were waaaaay too many people getting public assistance who really didn't need it. It was easier to stay un-employed and collect free money from the government.
gmc wrote: Interesting to see the same debate we are having. I always thought the US had no kind of social security sytem. If you were poor or down on your luck then tough.
The difference nowadays, however, is that the system actually weans the welfare recipients off the system. There were waaaaay too many people getting public assistance who really didn't need it. It was easier to stay un-employed and collect free money from the government.
gmc wrote: Interesting to see the same debate we are having. I always thought the US had no kind of social security sytem. If you were poor or down on your luck then tough.