I very much appreciate Paul K, Sens Harkin and Warren, and others who are putting an expansion of Social Security on the table. Relative to fighting about cuts to the stalwart retirement program, that’s called “playing offense,” and given that Social Security is the most solid leg of the three-legged retirement stool (Soc Sec, pensions,… Read more
Here’s an engaging read from this AMs NYT on why economics doesn’t qualify as a science, and, more fundamentally, asking what is it good for, anyway? On the first point, you’d probably be hard pressed to find even many economists willing to defend our discipline as a science, or at least anything resembling a hard… Read more
I did. Over at the NYT Economix blog.
…even with recent, significant improvements in the fiscal picture, we are not out of the fiscal woods. In this biz, you need to be a CDSH—cyclical dove, structural hawk—and in that regard, the deficit is coming down to fast now when the sluggish recovery still needs fiscal support and going up later when it shouldn’t… Read more
I told you I’d link to these–my CBPP colleagues’ analyses of the Trustees reports on Soc Sec and Mcare–and here they are. Paul’s Medicare analysis echoes some of my earlier points regarding the positive impact of health reform on the Medicare’s finances, and he also pre-empts some potential silliness re claims of “bankruptcy!” The projected insolvency… Read more