…it will also yield a bonanza of payroll tax revenue that will keep the current system sound for generations to come.” Krugman has forgotten — or chosen to ignore –…

…either dramatic tax increases or severe benefit cuts. The first members of the Baby Boom generation turn 60 next year, in 2006. This is not a distant problem, but something…

…the retired people. If you think of it as a compulsory retirement scheme where every generation pays enough to justify its own benefits, then you look at it and you…

…Thomas Sargent a generation ago was criticizing Reagan’s fiscal policy, he was careful to say that we were on the path to bankruptcy as he noted solvency could be maintained…

Lost: Still a good show, but lost a bit of its edge. Discuss in comments. Committed: In the running for worst sitcom in a generation. I’ve long enjoyed Heather Havrilesky’s…

…AB: “it is silly to attribute debts long in the future to the current generation of current taxpayers” in response to a comment from me that this oped was comparing…

…deal, but then that has been long recognized by economists who would also note that the Reagan-Greenspan Social Security Commission raised the payroll contribution 20 years ago so my generation…

…these accumulated reserves for the next generation, which is why we are pre-funding our SSTF retirement in the first place. Unless President Bush intends to break the lockbox and divert…

…personal retirement accounts. That diversion would leave the government short of money, so…the government would have to borrow more—issuing perhaps $2 trillion in extra bonds over the next generation or…

…attribute debts long in the future to the current generation of taxpayers, as is often implied. as Bruce pointed to his NRO oped, which tries to claim the Smetters-Gokhale $44…