Image Credit: shutterstock

Image Credit: shutterstock

Economics, Entitlements

Responding to Teresa Ghilarducci on the retirement crisis

In Tuesday’s Wall Street Journal, we cited several studies that undercut the narrative that Americans face a “retirement crisis.” Writing in the Huffington Post, Theresa Ghilarducci of the New School for Social Research takes issue with our arguments. Here we’ll summarize her arguments and then respond. read more >

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Economics, Entitlements

Better no Social Security replacement rates than wrong replacement rates

Boston College economist Alicia Munnell’s recent writings on Social Security replacement rates – along with a defensive paper recently released by Social Security’s actuaries – have a “move on, nothing to see here” quality: SSA’s actuaries follow “international standards” and it’s just bad guys – like me, and presumably those arch-conservatives who make up Social Security’s Board of Trustees – trying to spoil a good retirement for everyone by removing replacement rates from the annual Trustees Report. In fact, there’s a lot to see on the replacement rates question, if you’re willing to look. read more >

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Economics, Entitlements

Responding (again) to arguments I didn’t make

A sign that you’ve hit the mark is when people respond to arguments you didn’t make rather than the ones you did. My recent Wall Street Journal piece on progressives’ response to the rising Social Security deficit made a very simple point: you’d think a bigger shortfall would cause progressives to take Social Security reform more seriously, but instead the consensus position is now to expand Social Security, paying for that expansion with the tax increases they once proposed to fill the program’s funding gap. read more >

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Economics, Entitlements

Couldn’t have said it better myself: Salam’s ‘The wrong kind of Social Security reform’

My recent Wall Street Journal op-ed noted that, while Social Security’s funding shortfalls are growing, progressives are showing even less seriousness with regard to fixing them. Indeed, the most common position among progressives today is toward increasing Social Security benefits. New York Magazine’s Jon Chait (who I usually enjoy reading) takes me to task for the piece but National Review’s Reihan Salam handily dismantles Chait’s arguments – more handily than I could have myself, I think. read more >