Finally, finally, finally, FINALLY!
Finally, a major publication — on its newspages — has taken up one of the key dishonesties (I was going to say the biggest, but there are so many …) in President Bush’s argument for phasing out Social Security.
As we’ve discussed here many times, President Bush’s gloomy predictions about the demise of Social Security are premised on a 21st century of anemic economic growth while his claims for private accounts are based on a 21st century of robust economic growth.
As Jonathan Weisman and Ben White put it today on E1 in the Post: “To conclude that Social Security is careening toward a crisis in 2042, President Bush is relying on projections that an aging society will drag down economic growth. Yet his proposal to establish personal accounts is counting on strong investment gains in financial markets that would be coping with the same demographic head wind.”
