WASHINGTON — Campaign for America’s Future Co-director Roger Hickey today called on President Bush to answer questions about his commitment to preserving a secure retirement at the end of a life of work for everyone in America. Federal Reserve Chairman Alan Greenspan today urged Congress to cut Social Security benefits for retirees to pay for the country’s $521 billion deficit created by President Bush’s massive new tax breaks for millionaires. President Bush believes Social Security benefits should not be changed for people near retirement and that future benefits should be invested in risky private accounts.
STATEMENT OF ROGER HICKEY
Today, the chairman of the Federal Reserve told Congress to cut Social Security benefits to pay for President Bush’s massive tax breaks for millionaires — which have turned record budget surpluses into deficits.
Voters already think that the Bush tax breaks for millionaires were a mistake. Greenspan makes it clear that the plan is to cut Social Security benefits to pay for them. Social Security checks to pay for the Bush tax breaks — voters will reject this equation in November.
Americans are starting to ask — why not just stop shoving cash into the pockets of millionaires? Greenspan and the Bush administration are asking average Americans to trim their Social Security checks so that Dick Cheney can keep getting his $90,000 per year in tax breaks.