Federal Reserve Chairman Pushes Social Security "Reform"

Ben Bernanke, the Chairman of the Federal Reserve Board, was pushing the idea of Social Security "reform" in a speech in Washington yesterday, according to McClatchy-Tribune. He urged action now so that the nation would not have to drastically cut benefits, cut other government spending or raise taxes later. Since it seems clear from the context of his remarks that he does not want any increase in taxes, either now or later, or any decrease in funding for other governmental activities, he must be calling for dramatic cuts in Social Security benefits.