Kent Conrad Endorses All Three Cuts To Social Security Program, Video, Speaking At The Wall Street Journal CEO Council [01:00]
Here's the link. [not embeddable]
*************SORRY, THE C-SPAN LINK HAS BEEN REMOVED****************
[Conrad says that he is "speaking for himself."]
This is as good as it gets, when it comes to having the Bowles-Simpson "recommendations" for cutting Social Security articulated in a public forum.
Here's the transcript:
00:00:00 THE SOLVENCY OF SOCIAL SECURITY ITSELF.
00:00:05 >> THAT IS DONE, HOW?
00:00:07 >> IT WILL BE DONE IN SEVERAL DIFFERENT WAYS TO EARN ONE OF THE WAYS IT IS WE WILL EXTEND THE CAP IN TERMS OF WHAT INCOME IS EXPOSED FOR FUNDING SOCIAL SECURITY.
00:00:22 THE AGE WILL BE EXTENDED OVER AN EXTENDED A PERIOD OF TIME.
00:00:28 AND A TECHNICAL WAY OF DETERMINING WHAT SOCIAL SECURITY PAYOUTS ARE. [My Words: The Big Kahuna--"Means Testing."]
00:00:33 AND THERE WILL BE AN INFLATION ADJUSTMENT.
00:00:38 CURRENTLY, THE INFLATION ADJUSTMENT IS DONE AND WITH THAT MOST ECONOMISTS SAY IS NOT FULLY ACCURATE.
00:00:45 >> ADJUSTMENT TO THE ANNUAL ADJUSTMENT?
00:00:48 >> CORRECT.
00:00:49 I THINK ALL OF THOSE WOULD BE FACTORS.
[Another "Hat Tip" to Mr. Alexa, Who's A Major Corrente Fan Of The Lurker Variety!]