The Committee for a Responsible Federal Budget has an update to their memo on the costs of delaying a fix for Social Security.
But it’s not just fancy charts: check out the whole story here.
The short story – as I see it, at least: Social Security has a big shortfall which needs to be filled either by raising taxes or cutting benefits. Any solution will be painful, but it’s less painful if we spread a little around to everybody. For each year we delay, we’re exempting another cohort of participants from the pain of reform, which means more for everyone else. That’s not good policy and it’s also not very fair.