Saturday, January 15, 2005

Speaking of...

Speaking of the Mainstream Media, MSNBC, so far, is the only place I've seen any kind of smackdown of Bush's demagoguery on Social Security. The NY Times ran a scathing editorial last month, but what else do you expect from a newspaper of East Coas,t liberal elitists? This is a relatively conservative smackdown, too. They acknowledge that some people don't even think there is a crisis. But the gist of the piece is that there probably is some sort of long-term shortfall, but that the "iceberg" rhetoric is way out of proportion to the actual facts. They even point out that he is flat-out wrong when he said “In the year 2018, for the first time ever, Social Security will pay out more in benefits than the government collects in payroll taxes." I would have been happier if they had given some numbers out, especially the CBO projections that show how crappy a return you would get using the private accounts/price-indexing system. But, you can't have everything you want.

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