Brad DeLong provides this list, which we should all print and refer to as we discuss this issue. My version will have two edits to Brad’s excellent list. This bullet point has been put in bold: Robbing Peter to pay Paul is in general not a good idea. Conservatives love this expression when the discussion […]
I spent so much time yesterday hat-tipping Max Sawicky’s Little Nell post that I sprained my right wrist so let me use my left wrist to hat-tip this piece of brilliance: It’s a three-in-one masterpiece akin to those Rocky & Bullwinkle cartoons (slapstick for the little kids, humor for those of us who were about […]
CNN has commented on the Washington Post story with this report. President Bush is still refusing to say whether he supports the reported proposal: Administration officials insist, however, President Bush has not made a decision to embrace the approach and the first White House priority is a massive public relations campaign this month to raise […]
Max Sawicky has another excellent post this time commenting on what seems to be a revival of Model 2 from the Bush Social Security commission. Little Nell is a typical person born in 2000. You know – one of those children that Bush wishes to “save” the Social Security system for. To save further ado, […]
This is the title of a very good oped from Gail Collins. I would argue that among Gail’s many excellent statements, this one hits at the core of why this White House wants to adopt its proposal: In any event, doing well under privatization is relative. Congress’s budget agency analyzed the privatized plan that is […]
David Altig co-authored Simulating Fundamental Tax Reform in the United States (AER June 2001), which is a very good paper. So I decided to make his blog a must read. Alas, two posts have been most disappointing. This one seemingly endorses some Donald Luskin claim that the middle class got a large tax break from […]
Let me begin by thanking President Bush for enlisting the efforts of his father and Bill Clinton in encouraging more Americans to donate to tsunami relief efforts. This can do spirit stands in sharp contrast to the pettiness of Tucker Carlson, quoted and properly criticized by Juan Cole: CARLSON: Well, I got the sense from […]
On a lighter note, the country is much more Blue than I thought. As it turns out, however, I am Red. Via Ben Muse. AB
Matt Y. explains the trust fund simply enough that anyone can understand: Social Security, similarly, has been saving money for the past 20 years and will continue to do so for the next 14. At that point, it will slowly begin paying down its savings. This is not a Day of Reckoning for Social Security. […]
Two great pictures: “Off-budget” means social security — it’s currently running a surplus of around 1.5% of GDP or over $150 billion/year. Hardly a crisis, that. The general fund, however, is running a deficit in the neighborhood of 5% of GDP. That’s about $600b for 2004 (based on these somewhat dated numbers.) Now that sounds […]