February 17, 2005

Speaking of Greenspan

It looks like he made favorable comments regarding privatized accounts. Of course he did a little CYA by stating "that it should be done in a cautious and gradual way".

This does not sound too different from anybody else advocating private accounts. As I mentioned in a previous post, most advocates are proposing something similar to the Thrift Savings Program available to government workers.

Because of Greenspan's tremendous clout as Federal Reserve Chairman and his previous experience with the 1983 Social Security reform the possibility of privatization should get a boost. We shall see.

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