The Bush that Cried Wolf
That doesn't mean the system shouldn't be abolished. But that was true the moment after FDR signed the bill 70 years ago. I have to agree with George Will (oh, horror!),"[T]he philosophic reasons for reforming Social Security are more compelling than the fiscal reasons."
Update: Cato is also deemphasizing the alleged financial crisis in favor of the property-rights case. See this article.
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M.D. Fulwiler - 1/21/2005
I hate the program as much as anyone, but the program is running a surplus until 2018. After that, they can "fix" it by a combination of tax increases and benefit cuts and by raiding general revenues. Unless the public turns against the system (we can hope!), they can almost certainly continue paying people ~something~ for 70 more years.
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