THE REAL LOCKBOX
So now Alan Greenspan says the “lockbox” the Democrats pretend to advocate for Social Security must be “real.” Addressing the Senate Committee on Aging this Tuesday the 15th, he proclaimed:
In addressing Social Security's imbalances, we need to ensure that measures taken now to finance future benefit commitments represent real additions to national saving. We need, in effect, to make the phantom `lock-boxes' around the trust fund real.
It’s going to be very interesting to watch Democrats squirm - and a lot of squishy Republicans - when conservative Republicans on Capitol Hill take Greenspan’s demand seriously.
They are going to advocate something called The Real Lockbox. It puts the Dems in a lockbox without a key.
There are some very smart Congressional Republicans getting behind The Real Lockbox concept, which is far superior to President Bush's own private accounts plan. Whether they end up in a tug-of-war with the Bushistas, or the latter admit to the flaws of their initial proposal, is going to be a major political drama this spring.