Friday, January 07, 2005

Exposing the phony crisis.

Seen on the Gutless Pacifist. From Slacktivist. I think this is a handy checklist should anybody tell you about the "crisis" in Social Security:

* Are you aware that Social Security is currently running a surplus?

* Are you aware that the Social Security Administration trustees report that the program is in solid financial health through at least 2042?

* Are you aware that this 37-years-from-now "crisis" is based on unhistorically pessimistic assumptions about economic growth that, if they prove to be true, would make investments in private accounts a disastrous money-loser?

* Do you ever wonder why newspapers use the word "crisis" to discuss a program whose health is guaranteed for the next 37 years?

* If Social Security, now in surplus and fiscally sound until 2042, constitutes a "crisis," then what word would be appropriate to describe the deficit in the general fund, which -- despite massive infusions from the Social Security surplus -- would still be in the red even if all nondefense discretionary spending were completely eliminated?


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