Tuesday, March 09, 2004

The latest Social Security quick fix

Slate has an article called “The Social Security Crisis – Solved!” Robert Gordon of Northwestern University has a survival theory that depends on higher productivity and more immigration. However, we need all those new foreigners to work in the U.S. for a couple decades then go home:

Indeed, Gordon believes immigrants—who tend to be young workers, tend to start paying into Social Security right away, and often return to their homelands before receiving benefits—will likely prove the saving grace of the Social Security system.

And there’s another problem:

There's a growing backlash against the two most significant factors that feed Gordon's projections. Productivity and the trends that fuel it—outsourcing and off-shoring—have become dirty words in Washington. Immigration isn't too popular either.

If we want to prop up that Ponzi scheme of Social Security, we need to exploit workers all over the world.

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