WHO WILL BE BRAVE?... REPUBLICANS OR DEMOCRATS?
Greenspan Warns About Social Security... Another Reason to Vote for Bush in 2004

A couple days ago Alan Greenspan, Chairman of the Federal Reserve, testified before the House Budget Committee on Social Security and Medicare. He warned how the "recent tax cuts had worsened the deficit, but also said he favored cutting spending rather than raising taxes, suggesting tax hikes could hurt the economy" ('Greenspan warns against deficits', CNNMoney Feb. 26th). He emphasized that if we don't deal with the problems related to our Social Security and Medicare systems the situation will be horrific for our economy... you think it was bad a couple years ago?

Shawn Macomber wrote a good piece for The American Spectator, excerpt:

THE SITUATION IS DIRE, however. According to a study by the Cato Institute, Social Security is not only the largest U.S. government program, accounting for 23 percent of total federal spending, it is "the largest government program in the world." And within 15 years, Social Security will begin to spend more on benefits than it takes in. In his testimony Greenspan recommended taking steps to solve this problem.

15 years? I remember when it was a problem blasted over the media a decade ago and various outlets were saying, "30 years... Only 30 years until Social Security dries up and our nation faces a crisis..."

Now it's 15 years. Soon 10 years... Who will be brave enough to stop the bleeding? Practically speaking, if a Democrat is elected in 2004, he will not hurt his party's chances for re-election and touch Social Security and face the wrath of the AARP. If President Bush is reelected, he has more freedom and hopefully the courage to stop the bleeding and deal with our nation's entitlement problems. I hope his principled approach to policy holds steadfast during his second term.

If not, it will simply be a game of leap frog on the road between the Democrats and the Republicans to see who has to deal with this looming crisis when it runs over them in 15 years.