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December 12, 2004

Brad DeLong Is Driven Into Shrill Unholy Madness

This is one of those days when I cannot believe that the Republicans--and the tame lapdogs in the press who print their words without surrounding them with, in bold and red, "LIAR!! LIAR!!"--are simply ignorant or deluded, but must be mendacious and malevolent.

The chart below shows the Gale-Orszag baseline for the federal government: current policies, with a fix of the AMT so that it does not replace the general tax system, and with the extension of those tax provisions currently scheduled to expire:

The U.S. government's fiscal problems are not in the Social Security system. The U.S. government's fiscal problems are in the General Fund. And these fiscal problems are dire indeed.

"Ah," some Republican will say, "but the Social Security system's finances get much worse after 2014." That is indeed true. But the General Fund's problems get worse too--and get worse at a much faster rate: the Bush tax cuts, Medicare, and Medicaid guarantee that.

So why dink around claiming that the most important fiscal-policy thing to do right now is to "fix Social Security"? When the General Fund has problems five times as big happening five times faster?

As I said, this is one of those days when I see the Republican Party as something that has no business existing on the face of the earth.

Posted by DeLong at December 12, 2004 12:56 PM

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» Delong on Social Security from Industry - The Joe Hill Dispatch - Journal of Business, Finance and Economics
View image\ Brad Delong points out that the problems with the General Fund are much greater than those of Social... [Read More]

Tracked on December 12, 2004 04:30 PM

» More on the Campaign to Destroy Social Security from MLs blog
Brad DeLong has just about run out of patience with 'adult Republicans' (is there any such animal any more?): Brad DeLong Is Driven Into Shrill Unholy Madness. [Read More]

Tracked on December 13, 2004 12:05 PM

» More on the Campaign to Destroy Social Security from MLs blog
Brad DeLong has just about run out of patience with 'grownup Republicans' (is there any such animal any more?): Brad DeLong Is Driven Into Shrill Unholy Madness. [Read More]

Tracked on December 13, 2004 05:52 PM

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