Larry Hunter fires the latest volley against my colleagues and me.
The folks at IPI don’t want to slow the growth of Social Security benefits. They want to solve the problem entirely with personal accounts. I erred the other day letting this claim by Tom Giovanetti go by: “the Chief Actuary of Social Security admits that [this approach] will work.”
That’s true if, by “work,” Giovanetti means “require $6.9 trillion in additional revenue.” Follow his link and click on table 1d. Note that the actuary is not endorsing the claim that IPI’s favored plan would actually generate that money.