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Krugman’s Defense



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He makes one decent point and two weak ones. The decent point is that Social Security’s projections looked worse in 1996 than they do today (although the passage of time means that the date when outflows exceed inflows is still closer now than it was then).

The two weak points:

1) Ruth Marcus hates me! And she’s mean.

2) The context was different. I was saying that Social Security was a problem only to block tax cuts. I didn’t meant to talk up the problem in order to get people to do something crazy like fix Social Security. (Since the tax cuts in fact passed, wouldn’t that mean the Social Security problem is bigger now?)



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