« In Fighting Abounds in the World of Unions | Main | Leahy to Grill Gonzales »
January 4, 2005
Krugman on Social Security
Paul Krugman has taken it upon himself to school us, the American people, in the fine art of understanding SS and the b.s. the administration is trying to feed us on the subject. Juicy bits from today, his first installment in a series:
There are two serious threats to the federal government's solvency over the next couple of decades. One is the fact that the general fund has already plunged deeply into deficit, largely because of President Bush's unprecedented insistence on cutting taxes in the face of a war. The other is the rising cost of Medicare and Medicaid.Full op-ed in NYT.As a budget concern, Social Security isn't remotely in the same league. The long-term cost of the Bush tax cuts is five times the budget office's estimate of Social Security's deficit over the next 75 years. The botched prescription drug bill passed in 2003 does more, all by itself, to increase the long-run budget deficit than the projected rise in Social Security expenses.
Posted by cj at January 4, 2005 3:30 PM
Trackback Pings
TrackBack URL for this entry:
http://www.chickenfootstew.com/cgi-bin/mt-tb.cgi/13
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)