With his pajamas down...admits that Social Security's 'Trust Fund Bonds' aren't real assets and future generations will not collect their promised benefits.
At least that is the only logical argument that can be drawn from criticizing Greg Mankiw for saying transitioning to private accounts will simply be a matter of replacing implicit debt with explicit debt.
Moral; a cranky economist is a sloppy economist who is going to be embarrassed in the comments section:
Ha. Brad deleted my next post too. Well, I guess I can't force him to be fair and honest and balanced and "reality-based" and whatever else he calls himself. If he can handle putting that at the top of his page and still delete honest objections to his claims, that's for his psyche to rationalize. I don't envy it the task.
This is just like most discussion sites, left and right. You sit around agreeing each other, congratulating one another for being correct, and shutting out -- either by shouting down or, as in this case, deleting -- those who disagree. It's boring. You'll never have a real impact in this world if you just talk to yourselves.
Which is fine by me.
Posted by: pudge at March 3, 2005 01:07 PM