Tristero has an interesting multiple choice exam for everyone. I have a minor problem with one answer, however (italics mine):
(B) Advocating the privatization of Social Security as a means of resolving a very real but overblown problem – as favored by the Bush administration and conservatives in Congress – looks increasingly foolish and indefensible.
As I’ve argued before, Social Security will most likely go bankrupt one Samuelson Unit from now. Given that the Samuelson Unit is always 30-38 years from the time of measurement, and requires the tanking of the U.S. economy for an unprecedented time scale, there is no Social Security Crisis.
an aside: I don’t like bashing tristero, as he is one of my favorite political bloggers, but, hopefully, I’ve restored the karmic balance of blogtopia (and, yes, skippy coined that phrase) by bashing someone who referred to Meals-on-Wheels as welfare.
another aside: There are three problems with Social Security. The absence of the Social Security surplus will mean that the annual deficit will increase. Spending the government securities in the Fund will increase the national debt. Finally, compared to other countries’ pension plans, Social Security pays a far lower percentage of pre-retirement income. None of this means, however, that the current Social Security program is DOOMED!