Commentry by Roger Erickson
Safer Social Security by Peter Orszag
Peter lied about Social Security while working for Obama's handlers, now he's lying even more. He claims that cutting Social Security "modestly" while raising FICA taxes is a "progressive" thing to do, since it solves a minor (but in his words "real") budget solvency issue.
Lord have mercy! If we can't run out of fiat, SocSec can't run out of fiat. Haven't the foggiest what he's imagining, but it's all so out of paradigm that's it's irrelevant to reality. It's so bad that it's not even wrong. It's just irrelevant.
If you come across anyone who can get the truth to Orszag, can you pass these on? (Just to see if he even cares. If he gets that far, send him to the 7Difs afterwards.)
"Almost everybody talks about budget deficits. Almost everybody seems in principle to be against them. And almost no one, literally, knows what he is talking about." Robert Eisner, The Misunderstood Economy, p.90;
"How real is the federal deficit?" [Robert Eisner]
Hint, how real is fiat? I'll give you a few seconds to think on it.
Take your time, nothing going on but an expanding REAL (not fiat) Output Gap.
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