"If Mr. Bush were to say in plain English that his plan to solve our fiscal problems is to borrow trillions, put the money into stocks and hope for the best, everyone would denounce that plan as the height of irresponsibility. The fact that this plan has an elaborate disguise, one that would add considerably to its costs, makes it worse. "However, since this is NOT Mr. Bush's plan, the premise of Krugman's story is the same old rant. As usual, Krugman does his best to misrepresent the intentions of George Bush and his administration while offering no plan of his own to solve a looming problem. It's easy to state a problem, imagine all the potential negatives of any plan, and present only the negatives as fact making the plan, therefore, an "unrealistic scheme".
One way or another, Social Security is going to cost us a lot of money. We're either going to pay to fix it, or fund it as is. To do the latter would require the greatest shift in wealth from one generation to another in the history of man. There are simply not enough future workers to pay for the benefits of the future recipients.
The Left believes in redistribution of wealth but I don't think even they can live with the impact this would have on the productivity and well-being of every American worker - not to mention the generational animosity brought on by the policy.
UPDATE: Apparently I missed an earlier piece (December 7th) from Krugman that discusses his plan: Leave Social Security alone and raise taxes!
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