The White House claims that preserving Social Security in its current form “is unaffordable.” Yesterday, Alan Greenspan told the Senate Banking Committee that it would cost $3.7 trillion to preserve Social Security in its current form for 75 years. (Keep in mind, there is no shortfall what-so-ever until at least 2042). Let’s put that number in perspective:
75-year cost of the President’s prescription drug bill: $8.1 trillion
75-year cost of the President’s 2001 and 2003 tax cuts, if made permanent: $11.1 trillion
75-year cost of the President’s tax cuts to the top 1%, if made permanent: $2.9 trillion
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