That’s the real issue behind the Social Security debate – and the deficit fight as well. But it’s almost impossible to have a constructive public discussion about the elderly and the share of the economy they occupy so long as deficit hysteria continues.
Don’t go to Pete Peterson’s Fiscal Times for balanced reporting on Social Security and the federal fisc. That would be like asking Col. Qadaffi for news and analysis on Middle Eastern populism. But every now and then, the miscreants raise an important issue. Perhaps inadvertently, but there it is.
Eric Schurenberg, who purveys politically palatable news to the business community as head of BNET and CBSMoneyWatch.com, published an op-ed in the Fiscal Times last week that purported to demolish the “myths” bolstering “that fiscal fun-house mirror, the Social Security trust fund.” The piece is full of misconceptions that are nicely demolished elsewhere.
But Schurenberg raises an issue that’s been almost entirely left out of the current debate about reducing the deficit and “reforming” entitlements like Social Security and Medicare. “The most destructive myth of all,” Schurenberg writes, Read the rest of this entry →