Magazine May 4, 2009, Issue

Social Security Myths

(Larryhw/Dreamstime)
They are vanishing along with the surplus

‘When something is unsustainable,” so goes the aphorism, “it tends to stop.” Usually invoked about tangible phenomena, the old saw is equally true about unsustainable arguments. If a conception is unsustainable in the face of overwhelming evidence, it must die. Sometimes it dies with a whimper, sometimes with a bang.

In recent years a fashionable myth took hold on the left end of the American political spectrum: the myth of overly conservative Social Security projections. Social Security didn’t really face a shortfall, it was said in these quarters. The supposed threats to the system amounted to a “manufactured crisis,” based on

To Read the Full Story
Chuck Blahous — Mr. Blahous, a senior fellow at the Hudson Institute, formerly served as deputy director of the National Economic Council and executive director of the President’s Social Security Commission.

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