Destroying Social Security In Order To Save It
Via Atrios. An interesting phenomenon has emerged - taking on Krugman is not a smart thing for a public pundit to do. First, Krugman is usually right. Second, Krugman does a great job of defending his positions, usually making his critic look foolish (see Brooks, David.) And now a new reason, Krugman's views gets defended by a lot of smart people. Today, Ruth Marcus of the Washington Post discovers this:
Ruth Marcus shows two things in her commentary today, "Krugman vs. Krugman". First, she hasn't a clue about Social Security financing. Second, she has no problem at all presenting a distorted picture to rationalize her clueless position.. . . [H]ad Ruth Marcus included this quote from Paul Krugman's 2005 piece in her editorial (or quotes from other pieces of the vast amount Krugman has written about Social Security after 2001), it would have changed the interpretation of the quotes she includes in her article. Here, Paul Krugman explains why the future of Social Security was at issue at that time:
Four years ago, I and many other economists urged policymakers to think about the future cost of Social Security benefits, not because we thought there was anything wrong with Social Security itself, but because we regarded the future costs as a compelling reason not to cut taxes even if the overall budget was in surplus.Keep that quote in mind, i.e. that the worry was that the Bush tax cuts would eat away at the accumulated Social Security surplus, as they did, as you read Ruth Marcus' desperate attempt to justify her doom and gloom about the future of Social Security . . .
MORE.
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