Thursday, December 23, 2004

April Fools

A commenter, Bruce Webb, over at Max's place raises a very important point. There is a ticking time bomb which will explode the "crisis" rhetoric. The next report by the Social Security Trustees, due March 31, will inevitably bump the "insolvency" date for Social Security ahead (yet again) another couple of years given that productivity growth in 2004 has greatly exceeded the number the plugged into last year's model.