A while back Jon Chait wrote a great piece about the peculiar insistence of many people in DC that Social Security is a looming crisis, despite the fact that the numbers say it ain’t so. I can’t find a link to the original, but there’s a good summary here. ...
And to prove their seriousness, people are ready to repeat any number they’ve heard about Social Security’s problems — or, worse yet, a number they think they’ve heard, which isn’t remotely correct.
Feb 2, 2009
The Crisis That Ain't
From the blog of Nobel prize-winning economist and New York Times columnist, Paul Krugman:
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Krugman and Gore Noble Prize winners, they sure have set the bar low.
"NBC's David Gregory falsely asserted that Social Security will "pay out more than it's taking in by 2010."
A SUMMARY OF THE 2008 ANNUAL REPORTS
"Social Security's current annual surpluses of tax income over expenditures will begin to decline in 2011..."
I just goes to show that even Nobel prize winners can be partisan hacks.
A Nobel prize winner who is also a New York Times columnist? Could there be any other combination that would result in less credibility?
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