The Sky Is Not Falling, Social Security and Medicare Edition
Krugman has a good’n taking down the Chicken Littles on Medicare and Social Security:
The usual suspects insist that we must move right now to reduce scheduled benefits. But I’ve never understood the logic of this demand. The risk is that we might, at some point in the future, have to cut benefits; to avoid this risk of future benefit cuts, we are supposed to act pre-emptively by…cutting future benefits. What problem, exactly, are we solving here?
As the kids say, read the whole thing.