For some reason I can't embed it, but here's a link. The focus is on the CBO's projection that for the first time since the 1980s Social Security will run a cash deficit this year. CBO projects a deficit of around $28 billion, moving back toward balance over the next few years and then back into deficit again.
Tuesday, February 9, 2010
Me on Fox Business talking about Social Security
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2 comments:
Short term cash flow deficits reduce medium term Public Debt due to Social Security and so add to Sustainable Solvency.
Bad for short term deficits, bad for unfunded liability, but good for public debt. A little counterintuitive for those who try to suggest there is some sort of equivalence.
I think you'd have to explain your reasoning a bit more here. I'm not sure I get it.
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