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yesh omrim

a blog that reclines to the left


The Social Security non-crisis

21 December 2004

The Left Business Observer debunked the tales of Social Security “crisis” that were circulating back in 1994 and 1998. Now that the Bush administration is pushing Social Security “reform,” wonks closer to the Democratic mainstream, such as Matthew Yglesias and Kevin Drum, have come to the same realization.

If you don’t have the patience to read Yglesias or LBO, contemplate Kevin Drum’s graph, which shows that “doomsday” for the Social Security trust fund has been about 35 years away for the past ten years. If you have a little more patience than that, here’s my standing-on-one-foot explanation: