Wednesday, October 04, 2000

Instead of talking about the US presidential debate, let me point folks to some good thinking (backed up by counting) about social security. The dirty secret about switching from a pay-as-you-go system, where current payees support current retirees, to a individual-retirement-account system, is that there is a hidden debt that needs to be paid by someone. Krugman, points this out in a spirited piece on his website.


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