You see, apparently Krugman still believes that a Social Security Trust Fund exists and that it exists with more than just a pile of IOUs from decades of Congressmen and Senators doing their very best drunken sailor impersonations. Anyway, a sample of Burri's "critique:"
Krugman: Zombies Have Already Killed The Deficit Commission.Definitely worth reading the whole thing, and as an aside, even though we have all alternately blasted social security and other entitlements and the need to reform them, this is apparently the first Social Security tag at LiB. Not really that important, just kind of surprised we didn't have one before.
It must have sounded like a good idea (although not to me): establish a bipartisan commission of Serious People to develop plans to bring the federal budget under control.Now: that either means that the Federal Deficit Commission – the “bipartisan commission of Serious People,” as Krugman calls it – has been entirely consumed by said zombies, because that’s what zombies do, or else Commission members are now zombies themselves, meaning we should shoot them in their brains as soon as possible to prevent the infection from spreading any further.
But the commission is already dead — and zombies did it.
Krugman obviously doesn’t understand this. His misunderstanding of zombie folklore is, however, dwarfed by his misunderstanding of Social Security, and possibly also by his misunderstanding of the word “lie.”....
Revenues and spending: totally unrelated.
Alternatively, you can look at Social Security on its own. And as a practical matter, this has considerable significance too; as long as Social Security still has funds in its trust fund, it doesn’t need new legislation to keep paying promised benefits.Trust fund! “As long as Social Security still has funds in its trust fund!” Did you know Social Security has a trust fund? I didn’t know Social Security has a trust fund. You know why I didn’t know that? Because it doesn’t! There’s no such thing. No such thing, and everybody knows it. The federal government spends that money. It doesn’t sock it away anywhere as, apparently, Krugman thinks.