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A few years ago Congress changed the Social Security law and proudly announced the system was now sound for the foreseeable future, say 30 years. Michael Boskin`s book ”Too Many Promises” shows that it isn`t true: One brief quote is ”The basic structure of Social Security benefits and taxes must be reconsidered. We are on a collision course with financial insolvency and a tremendous schism between generations.”
He is right, but when did Congress ever tackle any difficult problem?
Rule 1 in Disneyland East is ”Get re-elected,” by passing out other people`s money or the promise of it. All congressional actions make sense when considered in the light of Rule 1, and today`s congressmen won`t be around when the Social Security impasse occurs.
