Be Serious Lads

The Wall Street Journal publishes a dialogue between economists on the Social Secuity "crisis"---and their first disagreement is over the extent to which the administration is lying. Imagine that.

For the record, I'm not opposed to social security privatization on a theoretical level. However, I'm convinced that on a practical level, a public system is always going to work about better for the majority of people than a private account system. In other words, the facts on the ground would have to change an extraordinarily dramatic way for me to change my mind about this, so much so that I don't think such a change is possible.

My point is, my beef with the administration from a moral standpoint isn't that they want to privatize Social Security---it's that they simply cannot bring themselves to utter a truth about it.