Friday, October 22, 2004

MY NEW SS REFORM ARTICLE IS UP

I missed Nato's blog for a little while since he went back to his usual blog rather than Tom's. On Oct. 11th, he voiced his common misconception:

Of note to those who feel (correctly) that Kerry's plan is not likely to actually reduce the budget deficit:

According to congressional estimates, he said the cost of the full Bush package would exceed 2.2 trillion dollars over the next decade while Kerry's plan would likely increase debt by 1.1 trillion dollars over the same period.


Another example of two poor choices. Clearly, the CBO is not going to be an organ of Democratic Party propaganda, seeing as how the GOP controls both houses and the executive. Therefore, one can be reasonably certain Kerry's plan, as profligate as it is, looks pretty good next to Bush's.


In my new article, "Land and Sea: Private Accounts, Social Security and Risk," I've got a few words on why this is misconceived:

In one of the Washington Post's more egregious misrepresentations in recent memory, a headline stated "$3 Trillion Price Tag Left Out as Bush Details His Agenda" This was picked up by blogger Andrew Sullivan as indicating that Bush's proposed second-term domestic agenda would cost $3 trillion. But if you read the article, it said something quite different. Of this $3 trillion, $1 trillion was the "cost" of the extension of the tax cut. Hmm. I probably don't have to explain to anyone that there's a difference between the government spending your money and the government not taking your money.

The other misrepresentation was more understandable. The Post, like everyone else who talks about "transition costs," claimed that if part of younger workers' payroll taxes goes into private accounts, then there will be fewer payroll taxes left over to pay current retirees, which will drain the Social Security "trust fund" (smoke-and-mirrors, that "trust fund," but never mind) and require the government to pay current retirees out of other revenues, either taxing or borrowing. This is true. But at the same time, as younger workers shift to private accounts instead of the traditional Social Security program, the government is being unburdened of future Social Security obligations. So even if the government borrows all the money it needs to pay current retirees, this will represent no increase in the government's total liabilities.

The Washington Post, then, had it completely wrong. There was actually no "price tag" at all, properly speaking, for the programs they were reporting on.

39 comments:

  1. Anonymous9:57 AM

    After reading articles from your blog and your 'Judas' article on Andrew Sullivan, I've come to the conclusion that I will vote for Sen. Kerry. Even though I'm a Republican, I don't consider myself an evangelical, or right wing, however supporting Pres. Bush is something I cannot do. The virulence of the most of the Blogs on both the right and the left do more trashing than discussion; all say anyone who disagrees with them are traiters or a Judas (your money quote). Your 'Judas' article (no matter how you may view yourself, right, left,or centrist)does much to undermine any balanced approach that is referenced on the blog. Your caustic rebuke of Mr. Sullivan has made my choice easier. I'm sure you will label me a Judas, and if so, I will wear it with pride

    ReplyDelete
  2. Anonymous1:17 PM

    Your "Judas" article is magnificent. It didn't change my vote, but provided a much needed justification for why I should continue to read AS. If you see his blog, he's linked to you and promised to eat his words if proven wrong. I want to see that! In any case though, he seems to admit to your Judas analogy, since he suggests he will do as the ending of your article describes: "punish" himself if the high priests behind Kerry betray him.

    The real question will be: what is a (bigger) betrayal to AS? The extinction of Reaganism, or of gay marriage?

    ReplyDelete
  3. Anonymous6:02 PM

    N hanael,

    RE: MY NEW SS REFORM ARTICLE IS UP. Why don't you put a link to your blog about search engine register on our site
    for free? We have a specific category for search engine register related
    sites. We get tons of visitors and your link will be permanent.
    See http://www.quickregister.net . Thanks.

    John

    Get 10,000 free opt in leads right now.

    ReplyDelete
  4. Anonymous2:26 AM

    Generic Propecia grows hair in about 50% of men after one year and around 66% of men after two years. Overall, around 85% of men do not lose any more hair while using Propecia.

    ReplyDelete
  5. Anonymous11:20 PM

    Generic Cialis can be effective in achieving an erection as quickly as 15 minutes after it is taken. Generic Cialis can be active in achieving erections for up to 36 hours.

    ReplyDelete
  6. Anonymous1:33 PM

    [url=http://www.ganar-dinero-ya.com][img]http://www.ganar-dinero-ya.com/ganardinero.jpg[/img][/url]
    [b]Estas buscando formas de ganar dinero[/b]
    Hemos hallado la mejor guia en internet de como ganar dinero. Como nos ha sido de utilidad a nosotros, tambien les puede ser de utilidad a ustedes. No son solo metodos de ganar dinero con su pagina web, hay todo tipo de metodos para ganar dinero en internet...
    [b][url=http://www.ganar-dinero-ya.com][img]http://www.ganar-dinero-ya.com/dinero.jpg[/img][/url]Te recomendamos entrar a [url=http://www.ganar-dinero-ya.com/]Ganar dinero[/url][url=http://www.ganar-dinero-ya.com][img]http://www.ganar-dinero-ya.com/dinero.jpg[/img][/url][/b]

    ReplyDelete
  7. Generic Cialis gives good results and treats erectile dysfunction problem effectively. Generic Levitra is available in 20-mg tablets and is taken only when needed. Take Generic Levitra no more than once a day.

    ReplyDelete
  8. Anonymous1:18 AM

    Generic Viagra is a prescription drug, commonly used to help treat men having erectile dysfunction (ED) problems, also known as impotence. Generic Propecia comes in tablet form and should be taken only by men without liver problems. It should be taken regularly and needs to be taken with water - food is optional. Viagra contains Sildenafil and it is a prescription drug used to treat erectile dysfunction. Erectile dysfunction is the inability of the penis to become rigid, or stay firm long enough to complete the sexual act.

    ReplyDelete
  9. Anonymous8:47 AM

    Hey! I understand this is sort of off-topic however I needed to ask.
    Does operating a well-established website such as yours require a large amount
    of work? I'm brand new to operating a blog however I do write in my diary every day. I'd like to start a
    blog so I can easily share my own experience and feelings online.
    Please let me know if you have any kind of suggestions
    or tips for new aspiring blog owners. Thankyou!


    Take a look at my blog post :: Social bookmark

    ReplyDelete
  10. Anonymous4:43 PM

    This hotel is silklike, modern, and lays a brilliant treasure, until now spiritual domain by human eyes. [url=http://www.onlinecasinotaste.co.uk/]online casino uk[/url] online casinos This gaming machine has a spinning bike symbol that provides a 4,30 ja B:lle Samprasia kerroin 1,90 pelaamalla, mutta tllaisessa tapauksessa on ilmeist, ett vedonvlittj B tulee korjaamaan virheens peruuuttamalla vedon. http://www.onlinecasinoburger.co.uk/

    ReplyDelete
  11. Anonymous6:20 AM

    Hi there, just became aware of your blog through Google, and found that it's truly informative. I am gonna watch out for brussels. I will appreciate if you continue this in future. Numerous people will be benefited from your writing. Cheers!

    Feel free to surf to my web-site - coconut oil for hair

    ReplyDelete
  12. Anonymous10:29 AM

    I just like the valuable info you supply to your articles.
    I'll bookmark your blog and take a look at once more right here frequently. I am quite sure I'll be told
    lots of new stuff right right here! Good luck for the next!


    My webpage; diaper rash home remedies

    ReplyDelete
  13. Anonymous12:01 PM

    Excellent post but I was wondering if you could write a litte more on
    this topic? I'd be very grateful if you could elaborate a little bit more. Appreciate it!

    my webpage: permanent hair straightening

    ReplyDelete
  14. Anonymous12:19 PM

    Hello I am so delighted I found your blog page, I really found you
    by mistake, while I was browsing on Google for something else, Anyways I am here now and would just like
    to say kudos for a remarkable post and a all round
    entertaining blog (I also love the theme/design), I don't have time to read through it all at the moment but I have bookmarked it and also added your RSS feeds, so when I have time I will be back to read more, Please do keep up the superb job.

    Feel free to surf to my weblog Dry Scalp Treatments

    ReplyDelete
  15. Anonymous8:10 AM

    Perhaps the handiest, of course, might be a that for any individual applying for the very first time [url=http://www.dolcz.co.uk/]one day car insurance[/url] short term car insurance To recognise more details in relation to loan quotes related to these kinds of loan, you'll need to search from internet in order to save money http://www.dolcz.co.uk/

    ReplyDelete
  16. Anonymous10:51 AM

    An interesting discussion is worth comment. There's no doubt that that you ought to publish more on this issue, it might not be a taboo subject but typically people don't speak about such subjects.

    To the next! Best wishes!!

    My web page Recycling Facts

    ReplyDelete
  17. Anonymous4:19 AM

    I am now not certain the place you are getting your info, however great topic.
    I must spend some time studying more or figuring out more.
    Thank you for wonderful info I was on the lookout for this info for my mission.


    Feel free to visit my weblog: Pllogic.com

    ReplyDelete
  18. Anonymous3:00 PM

    Have you ever thought about including a little bit more than just
    your articles? I mean, what you say is valuable and everything.
    However imagine if you added some great visuals
    or videos to give your posts more, "pop"! Your content is excellent but with pics and clips, this site
    could definitely be one of the very best in its field.
    Good blog!

    Also visit my webpage; Unknown

    ReplyDelete
  19. Anonymous3:56 PM

    I'd like to find out more? I'd care to find out some additional information.


    My web site Unknown

    ReplyDelete
  20. Anonymous3:39 AM

    I was recommended this blog by my cousin. I am not sure whether this post is
    written by him as no one else know such detailed about my trouble.
    You're wonderful! Thanks!

    My web page :: Http://coy41g.Mancouch.com/

    ReplyDelete
  21. Anonymous4:50 AM

    I got this site from my friend who informed me regarding this web page and at the moment this time
    I am browsing this website and reading very informative content here.


    Feel free to visit my website; Unknown

    ReplyDelete
  22. Anonymous2:50 AM

    This is very attention-grabbing, You are
    an excessively skilled blogger. I've joined your feed and stay up for in quest of more of your wonderful post. Additionally, I've
    shared your web site in my social networks

    Take a look at my web site ... Mon Jervois

    ReplyDelete
  23. Anonymous1:51 PM

    Excellent blog you have got here.. It's hard to find high-quality writing like yours nowadays. I truly appreciate people like you! Take care!!

    Also visit my homepage :: Http://Www.Hillclimbfans.Com

    ReplyDelete
  24. Anonymous11:50 AM

    Hi, this weekend is pleasant designed for me, as this point in time i am reading this wonderful informative article here at my home.


    Also visit my blog post :: Psn Code generator

    ReplyDelete
  25. Anonymous4:44 AM

    Hello there, I found your blog via Google whilst
    searching for a similar subject, your site got here up,
    it seems to be great. I have bookmarked it in my google bookmarks.

    Hi there, just became alert to your blog thru Google, and found that
    it's really informative. I am gonna watch out for brussels. I will appreciate in the event you proceed this in future. Many other people will be benefited out of your writing. Cheers!

    Here is my page - diaper rash home Remedies

    ReplyDelete
  26. Anonymous12:03 PM

    Do you mind if I quote a couple of your articles as long as
    I provide credit and sources back to your webpage?
    My website is in the very same niche as yours and my visitors would definitely
    benefit from some of the information you present here.
    Please let me know if this okay with you. Thanks!

    Feel free to surf to my web-site: world Of tanks hack

    ReplyDelete
  27. Anonymous9:19 AM

    I was suggested this website by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my
    trouble. You are wonderful! Thanks!

    Here is my website pirater un compte facebook

    ReplyDelete
  28. Anonymous9:59 AM

    I am really delighted to read this weblog posts which includes lots of helpful data, thanks for
    providing these information.

    My web page - The Interlace

    ReplyDelete
  29. Anonymous5:49 AM

    It's wonderful that you are getting thoughts from this post as well as from our argument made at this place.

    Here is my weblog :: Dragon City Cheat Engine

    ReplyDelete
  30. Anonymous4:01 PM

    If you want to get a good deal from this piece of writing then you have to apply such strategies to your won blog.


    Here is my website; league of legends hack

    ReplyDelete
  31. Anonymous4:37 PM

    Hmm it seems like your blog ate my first comment (it was super long) so I guess I'll just sum it up what I submitted and say, I'm thoroughly enjoying your blog.
    I as well am an aspiring blog blogger but I'm still new to the whole thing. Do you have any suggestions for newbie blog writers? I'd
    definitely appreciate it.

    my web page :: World Of Tanks Hack

    ReplyDelete
  32. Anonymous7:08 AM

    To get acquiring a bank loan there are some fundamentals a bad credit score, anywhere the companies cover have their own criteria determined UK Business Angels Association You should use any site to get started on a relationship, meet new people or locate a hook up, yet military dating is growing rapidly different than private dating

    ReplyDelete
  33. Anonymous4:51 PM

    Particles confirmation develops soon after this kind of by the financial institutions and after confirmation of the deliver details the loan is recognised and the financial loan will be acknowledged in your bank-account without any problems london business angels As with most guarantor contracts, your own house should experience borrowing from the bank and has already been to have a career with a typical paycheck

    ReplyDelete
  34. Anonymous5:00 AM

    I have read so many content about the blogger lovers except this piece of writing
    is in fact a good paragraph, keep it up.

    Here is my web blog: Code Psn Gratuit

    ReplyDelete
  35. Anonymous1:02 PM

    Hello, yeah this piece of writing is actually nice and I have learned lot of things from it about
    blogging. thanks.

    Feel free to visit my web-site Minecraft Gift Code Generator

    ReplyDelete
  36. Anonymous2:00 PM

    continuously i used to read smaller articles or reviews that also clear their motive,
    and that is also happening with this piece of writing which I am reading here.


    Look at my blog post: Free Psn Codes

    ReplyDelete
  37. Anonymous1:51 PM

    Good day! Do you know if they make any plugins to protect against hackers?

    I'm kinda paranoid about losing everything I've worked hard on.
    Any recommendations?

    Also visit my web page: Minecraft Crack

    ReplyDelete
  38. Anonymous1:58 PM

    My brother suggested I might like this web site. He used
    to be entirely right. This submit actually made my day. You cann't consider simply how so much time I had spent for this information! Thanks!

    Here is my blog: playstation 3 jailbreak ()

    ReplyDelete
  39. Anonymous3:09 PM

    Fantastic goods from you, man. I have understand your stuff previous to
    and you're just extremely magnificent. I actually like what you have acquired here, certainly like what you are saying and the way in which you say it. You make it enjoyable and you still take care of to keep it smart. I can't
    wait to read much more from you. This is really a great web site.


    My page :: ps3 jailbreak buy

    ReplyDelete