24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

Creative Accounting Can't Hide Social Security's Woes

MADISON — Does the $2.4 trillion worth of federal governmental IOUs in the Social Security Trust Fund have any value?

That was the crux of Sunday morning’s fiery debate between Sen. Ron Johnson, R-Wis., and New York Times economics columnist Paul Krugman  on ABC’s “This Week.”

The takeaway: Going broke by any other name still is going broke.

While Washington politicians and pundits can argue about the bookkeeping of Social Security, taxpayers are asking: Where’s my money?

Basic math points to big trouble for the entitlement program.

Source: Wisconsin Reporter. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

  • Sevo||

    Ah, yes, sophistry from Krugman!