Comments on economics, mystery fiction, drama, and art.

Tuesday, January 18, 2005

Bankruptcy Follies

President Bush has now begun using the line that the Social Security Trust Fund will be "bankrupt" in 2018 (or thereabouts) when incoming tax revenues will fall below benefit payments.

Let's see. I'll retire in 2013. At that point my income will fall below my expenditures. Wouldn't that, accoding to Bush's logic, mean I'm bankrupt? So according to Bush's logic, are all retirees bankrupt?


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