Tuesday, October 30, 2007

What Social Security crisis?

I don't like the campaign rhetoric from Barack Obama suggesting that Social Security is facing some kind of big crisis.

As Paul Krugman noted in The New York Times a few years ago, just a little tweaking of Social Security would fix the system for the next 75 years.


MR. BASEBALL said...

Rascal, I agree with Krugman. Medicare is in a much more precarious state than Social Security. But I also don't see Obama saying or intimating in that article that Social Security is facing a big crisis. Am I missing something?

The Rascal said...

Obama has raised the issue of Social Security several times, presumably to make some point against Hillary Clinton. But this tactic only helps feed the widespread myth that the Social Security system is on the brink of going broke, even if that's not exactly what he's saying. The truth is that if Congress does absolutely nothing to fix SS, the system will still be paying me when I'm 100 years old at the same rate it pays me now (along with annual COLA increases).