Wednesday, February 25, 2004

Alan Greenspan today warned that the looming Social Security Crisis must be addressed for the sake the long term health of the US economy. Greenspan may as well have been talking to his hand. This is an election year and the politicians on both sides of the aisle are rushing to assure the AARP that nothing is going to happen to their entitlements. No means testing, no reduced benefits, and no sane economic policy in this country. (NY Times, registration required)

The Social Security Crisis is estimated at $45 trillion dollars. The entire US economy generated a little over $10 trillion dollars last year.

This problem is nothing new. I remember reading about it when I was in high school when we debated the elderly topic. The writing is on the wall for everyone to see, but the politicians realize that to address the problem is political suicide.

I love this country and it breaks my heart that we are unable to perform the most basic form of strategic planning. The ship of state is headed towards a waterfall and the architect of our economy is telling us to steer the other way but the elderly lobby will have none of it. The republican form of government that this country was founded upon is seriously broken.

Alan Greenspan is revered by many, but when he starts talking about Social Security and fiscal responsibility and making hard choices, he is like Cassandra, speaking the truth but treated like a fool.

I don't know what is a greater threat to the republic, the imperial dreams of Dubya, or the excessive power of the political interest groups in Washington. Tyler pointed me to this essay by Tom Tomorrow that sums up my frustration well.

Since I'm on the topic of imperial dreams, Istvan sent me this link which discusses the symptoms of facism.

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