Apr
30
2012

For WaPo, Promises to the Elderly Have 'No Economic Significance'

I gave my daughter a tip on being a media critic: "If you see a newspaper article with the words 'Social Security' in the title," I told her, "it's probably bad." Sure enough, the article we were looking at–"Fixing Social Security," by Washington Post columnist Allan Sloan (4/29/12)–was pretty terrible. Sloan's argument is that cuts in Social Security benefits are "inevitable" because of "projections that Social Security's cash expenses will exceed its cash income as far as the eye can see." Note the important qualifier: "cash income." That means excluding Social Security's investment income. Including that income, Social Security is […]