December 7, 2004
Must be a logical mind game
Josh Marshall clears the spin away:Simply financing the 'transition costs' of phasing out Social Security will cost a good trillion or two dollars, maybe more -- by the White House's own informal estimates. And where on earth are we going to get that money? Borrow it, says the White House. Notta problem. In other words, we have to start phasing out Social Security now because if we don't we're going to face some big borrowing in a few decades. But we can avoid that horror of horrors by doing some big time borrowing now to finance abolishing Social Security [so] we won't have to face that terrible fate a few decades from now. Makes perfect sense, right?Unfortunately, yes.
Posted by Jeffrey at December 7, 2004 11:01 AM
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