Greenspan urges action on Social Security reform
Fed Chairman Greenspan told Congress to curb the cost of promised health and retirement benefits to baby boomers sooner rather than later, while supporting Bush's push for personal Social Security accounts. He warned existing promises may exceed the economy's capacity and urged earlier changes, as GOP and Democratic views split on solvency and privatization.
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Steel tariffs clash as manufacturers urge panel to end relief
Washington lawmakers steel firms and unions pressed the ITC to extend tariffs for five more years while rival manufacturers led by Ford GM Maytag Whirlpool Dana argued tariffs raise steel prices and hurt their businesses. The case traces back to 1999 and 2002 duties on hot rolled steel from Brazil Japan Russia and 11 other countries amid a steel industry rebirth and mergers.
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