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2/05/2005

No Financial Crisis

I realize that the liberal online community has effectively beat down the idea that there is a looming Social Security financial crisis. It's still nice to see good reporting on the issue, though, like this Miami Herald article. It provides a good analysis of the pessimistic economic assumptions, questionable immigration assumptions, and inherent uncertainty that combine in a perfect storm to produce poor projections. And even the bad projections are nowhere near a "crisis." Unfortunately, the Herald still gives "the other hand" to Michael Tanner of Cato, who tries to use obvious, and accounted for, arguments about demographics to gin up some hysteria. It's simply not credible.

 

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