The presidents nephew, George P. Bush, makes this point in the Dallas Morning News [HT to SSC]:
Some in Congress have said reform is not needed, as Social Security’s health is not currently a crisis. What kind of leadership is this? How can we afford not to act quickly when we know that the system’s insolvency is imminent?
The article is a great read and I would highly recommend it. Also from SSC, Try This Experiment:
Deroy Murdock suggests an experiment:
Open your wallet. Remove $100. Buy a new T-shirt, some socks, a decent lunch, two movie tickets, and beers with a friend afterward. Now, place in your wallet a slip of paper that reads: “I owe me $100 when I retire.”
Social Security is financed similarly.
FYI…Murdock will be on the Chris Matthews Show this Sunday (it’s usually on right before Meet the Press)
UPDATE (11:48am EDT): A SSC reader wrote me this email - “Try This Experiment” would be more accurate if the IOU said: I owe me $100 when I retire, signed, your children.
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