Thursday, December 27, 2012

Krugman Nails It (Sort of)

Paul Krugman writes:
[...]all those long-term budget discussions in which people act as if we really know what the state of Social Security will be three decades from now are basically just boring science fiction.
He's very correct in that detailed forecasts that far out are absurd, but simple math shows us that a lot sooner than three decades from now (more like five years from now) the Treasury is going to have to borrow a lot of money to keep SS afloat, if it is to payout anything close to what it promised to seniors that it would payout.

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