The Krug takes an entirely foreseeable first-of-many shots at the Bushies' Social Security privatization plan in today's column. In short, there's no real crisis looming unless you're talking about the critical need to throw massive amounts of investment dough at the major investment houses. And then the WashingtonPost has a front-pager that will get heavy play inside the Beltway all day. For the first day of the 109th Congress to begin their Session, this ain't exactly a strong endorsement of the issue. But I'll wait for the response from the media forces on the other side before I indicate anything like momentum for the stop-Dubya crowd.
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Valid points, to be sure. But the numbers cooked by the Bushies in presenting the crisis are dubious at best. Krugman's an economist, Bush is a politician. Saying that we're facing a $10T (yes, trillion, as they have honestly said) crisis is complete crap. Letting it ride until 2042 will never be a legitimate option. But presenting the Bushie plan as a way of offsetting the shortfall will not eliminate the long-term problem. Still...thanks for weighing in - you da bomb.
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