Poor Alan Greenspan

Sadly, Alan Greenspan (perhaps after watching what happened to former Secretary O'Neill [though he could not be fired by the President]) today in testimony before the House Budget Committee said that Social Security benefits must be trimmed to prevent a looming fiscal crisis. Despite this belief, he continues to urge the Congress to make permanent the President's tax cuts (costing approximately $1 trillion).

Perhaps since he knows Social Security benefits will not be trimmed (at least not for the boomers), he can be credited with offering a "solution" to the fiscal crisis while remaining the President's lackey on tax cuts. I just hope he doesn't tarnish his legacy by going to bad for this administration's clearly reckless tax policies.

Here is the text of his testimony.