When it comes to putting the United States economy in hock to bankroll President Bush’s scheme to privatize Social Security, how much is too much?
According to Fed Chairman Alan Greenspan: “…I do say, as I said previously, that I would be very careful about very large increases in debt. But I do believe that relatively small increases are not something that would concern me…I would say over a trillion is large.”
Well, Chairman Greenspan, time to get very concerned. According to the Center on Budget and Policy Priorities, the president’s privatization plan would entail adding at least $2 trillion to the national debt.