Wednesday, July 29, 2015

What Entitlements Crisis?

Despite right-wing noise to the contrary, there is no entitlement crisis.
Looking forward, population aging will expand that deficit by a few percent of GDP, but that’s well within the range that could be closed with moderate tax hikes, cuts in pointless military spending, etc.. Nor is there a big rush: nothing terrible will happen if we don’t immediately decide how we’ll pay for projected benefits in the year 2050.
In fact, there never has been an entitlement crisis. Should a conservative-minded friend tell you otherwise, you are completely justified in pointing out that they are just dead wrong.

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