Read Jacob Rese’s article at National Affairs.
Policymaking always requires a level of creativity, both to come up with new solutions to problems and to find ways to pay for those solutions. Oftentimes, however, this creativity results in fictions that we adopt for convenience and are then bound to perpetuate for the sake of politics. Such fictions ultimately constrain our policy options and lead to misinformed, sometimes damaging policy choices. Few such fictions have thrown a bigger wrench into the policymaking process than the existence of supposedly massive trust-fund reserves financing Social Security and Medicare, the very programs that threaten to drive our country into a debt crisis.
You check check out the whole article here.