More from Alan Simpson, the man who wants to cut your social security:
Simpson said that while every interest group that testified before his committee agreed that the mounting federal debt is a national tragedy, they would then talk about why government funding to their area of interest shouldn’t be touched.
“We had the greatest generation — I think this is the greediest generation,” he said.
Source: his home state newspaper.
Apparently it is lost on Mr. Simpson that the huge Social Security trust fund balance (over $2.5 trillion and still building) is actually the baby boom generation paying for both the previous generation’s retirement AND pre-paying their own. According to Mr. Simpson, that’s just “greed” – wanting to get back what you already paid in.
For more from Mr. Simpson see Watch the Dealer, you “Lesser People”. The Deck is Stacked.