Is anyone listening to this?
In remarks yesterday before the Bond Market Association — one of the hardest partying groups on the street — Treasury Secretary John Snow explicitly linked the administration’s efforts to cut the deficit to the push to partially phase-out Social Security. The logic of that statement points to only one conclusion: the deficits the administration has run up with upper-income tax cuts will be reduced by benefit cuts in Social Security.
It’s not about strengthening Social Security; it’s about cleaning up the mess created by the president’s tax cuts.
