Krugman: A Tale Of Two Expenses

[Kurt_and_Hunter]

August 14, 2010, 2:29 pm
A Tale Of Two Expenses
Paul Krugman


Social Security outlays are projected to rise from 4.8 percent of GDP now to 6 percent of GDP in 2030. This is a huge crisis, requiring complete overhaul of the system.

Defense spending rose from 3 percent of GDP in 2001 to 4.2 percent last year; you should also add a couple of tenths of a percentage point for non-defense security spending. This was no big deal — certainly not a reason to reconsider the tax cuts sold back in 2001 as easily affordable given large projected budget surpluses.

Just saying.

http://krugman.blogs.nytimes.com/2010/08/14/a-tale-of-two-expenses/

[Skink]

1. Is it me or is Krugman getting cynical?

[Kurt_and_Hunter]

2. He (and Josh Marshall) were consumed with saving Social Security under Bush...

batting down the same fake analysis and cherry-picked data over and over and over.

I think he thought he wouldn't have to re-fight the battle under a Democratic president.

D'oh!

Particularly when Krugman's opinion-capital is so much better spent on actual problems, like GDP, deflation, unemployment and Health-care.

[NC_Nurse]

3. He's not alone.

[Skink]

4. Obama did say yesterday that he won't put it in the market.

that said. Maybe he should lower the age. The largest group of 99ers are in their late 50's to early 60's.

[MannyGoldstein]

5. Based on who he appointed to the Social Security cutting commission

Obama likely wants to raise the age to 70.

[Skink]

6. raising the age makes no sense when looking at our unemployment picture.

I really thought Obama might lead on this, instead he appointed a commision.

[MannyGoldstein]

8. Alan Simpson, one of the co-chairmen

has been pushing for a commission to cut Social Security for many years. His argument is that there's too much political heat for elected politicians to discuss doing this.

[northernlights]

13. it does if you want to force people to live off their retirement savings

and work until they drop. x(

[Kurt_and_Hunter]

7. Which makes the system a transfer from people with bad genes to people with good genes

Straight up.

Pure and simple.

[MannyGoldstein]

9. Also from poor to rich

Since poor people live several years less than rich people.

[Kurt_and_Hunter]

10. Good point

[The Magistrate]

11. War, Sir, Is A Luxury We Can No Longer Afford....

[ThomCat]

12. It never was.

It always costs far too much.

Especially for the families and communities that make up the active military. The cost is always far far too much. :(

[laughingliberal]

14. K & R nt

[Kurt_and_Hunter]

15. ...