Comment: Ryan Questioning Greenspan if Social Security is Sustainable

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Ryan Questioning Greenspan if Social Security is Sustainable

Relevant exchange between Paul Ryan and former fed chairman Alan Greenspan on one of his last visits to Capitol Hill for his semi-annual testimony before Congress.

PAUL RYAN: “Do you believe that personal retirement accounts can help us achieve solvency for the system and make those future retiree benefits more secure?”

ALAN GREENSPAN: “Well, I wouldn’t say that the pay-as-you-go benefits are insecure, in the sense that there’s nothing to prevent the federal government from creating as much money as it wants and paying it to somebody. The question is, how do you set up a system which assures that the real assets are created which those benefits are employed to purchase.”

Ed Rombach