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Paulson nominated as Secretary of the Treasury
June 05th 05:11:56 PM
Last Tuesday, President Bush nominated Henry Paulson as the next Secretary of the Treasury. Paulson will succeed John Snow, who has been a great friend of the Social Security reform movement, as well as of S4.
Paulson, who is leaving his position as CEO of Goldman Sachs, was described by the President as having “a lifetime of business experience; he has an intimate knowledge of financial markets and an ability to explain economic issues in clear terms.” Hopefully, this knowledge will be put to good use in continuing the reform-minded work of his predecessor.
Paulson has also had previous government experience working at both the White House and the Pentagon. This, combined with his impressive track record in the private sector, make it very clear that he is well prepared to help set the fiscal policies of the world's largest economy. Even the New York Times cannot deny that Paulson is a strong choice, stating that Paulson “may be just the person to buy America some time to get back on track.”
Actually, we cannot simply “buy some time.” That is precisely what got us into this mess: focusing on delaying the inevitable failure of Social Security to protect our generation through tax hikes and raising the retirement age. Someone with capabilities as great as Mr. Paulson will clearly have the vision to realize the need for reform right now!
We have only 10 years before the Social Security system goes bankrupt. A businessman as keen as Paulson will surely realize that one cannot wait until being bankrupt to suddenly start caring. I am sure that Paulson is the perfect choice to renew the campaign to save Social Security, and I hope that the confirmation process goes smoothly.
Posted by Jo Jensen
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