But the authors challenge basic assumptions with vigor and intelligence. They question the methodology and even the intentions of those who would renounce the remarkable success of America's great social-insurance program. The advertised deficit in the Social Security fund over the next 75 years, they note, is based on a projected rate of growth that's less than half the last 75. The supposed overstatement of the consumer price index, discovered by experts with their own agendas, may be way off base after all. Streetwould wreak havoc, based as it is on clearly untenable assumptions over any reasonable period.
Demographics show that intergenerational warriors promote a false, poisonous cause.
All in all, say economists Baker and Weisbrot, it's not an honest debate. Let's talk about the real problems, they urge. The environment is inexorably deteriorating, the gap between rich and poor is widening, and the rising cost of health care is of paramount concern for the future. So calm down, policy wonks. Let Grandma alone.