Thursday, September 13, 2007

Social Security Talk

Andrew Samwick, Dartmouth Economist and blogger, relays information over at his blog Voxbaby that Hank Paulson, Treasuary Secretary, is quietly mounting a campaign to make minor changes to Social Security. I don't really think there is much overlap in either party as to what changes would be acceptable. The obvious solution to deal with the explicit debt of Social Security is to raise the age eligibility or raise the cap on payroll taxes. To actually tackle the implicit debt that the Social Security Trust Fund represents would require much more drastic action. I thought the President's proposal was eminently sensible but I am obviously in the minority.

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