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October 04, 2006
"Large and unavoidable"
Fed Chair Ben Bernanke did his best to sound the alarm today over the looming fiscal calamity that awaits us, that is, of course, without alarming anyone. But his message was clear: as Baby Boomers reach retirement age, the rest of us will bear a pretty hefty burden in supporting them in their dotage.
This is not a drill. The fate of President Bush's plans for Social Security reform does not bode well for the entitlement-slashing suggestion. Which leaves...what...exactly...oh, right: tax increases!
Posted by bill at October 4, 2006 10:20 PM
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