Wednesday, November 24, 2010

Ezra beclowns himself on Social Security

In mock seriousness, the WashPost blogger presents a graph showing how Social Security benefits will decline under different deficit-cutting scenarios. Meanwhile, the "current law" line continues on it's merry way with this disclaimer:
It's worth noting that the "current law" line is looking at what Social Security promises to pay out under current law, not what it can afford to pay out under current law.
Emphasis added to indicate fantasyland estimates. Everybody and his brother knows that under current law, Social Security is poised for an automatic 20% benefit deduction about 2037. Ezra Klein seems to believe that the illusion of government promises will outweigh reality.

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