Saturday, December 18, 2004

Everything you ever wanted to know about Social Security

An excellent review on Opinion Journal: “The Social Security crisis - Without reform, it will destroy itself

These are all facts that can be found in countless studies by countless experts, and in the reports by the Social Security Trustees. FDR's New Deal retirement system is headed toward a great collapse all by itself, as more and more voters seem to understand. The people who would really destroy Social Security are those who want to leave it alone.
Demographics are destiny: this Ponzi scheme cannot continue in its current form. The anti-reformists have circled the wagons against private accounts and faulted them for their putative “uncertainty” (e.g. the stock market might go down). This is a little like saying the lifeboats aren’t as luxurious as the Titanic.

Extra: Donald Luskin dispatches Paul Krugman’s latest attack against reform. I was going to respond to Krugman the other day, but I figured Luskin was on it.


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