``I must give him his due. He has considerably cretinized me.'' Lautréamont

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Sunday, November 19, 2006

A Bad Choice for Social Security (NYT)

the only thing that will save social security, and what will in fact happen, is the retirement age will go up.

it happens to be absurdly simple to do

it reflects that there's some balance needed between number of workers and number of retirees they support

as people live longer, they also have to work longer

you can, of course, retire whenever you want, but on your own dime for the interval between when you retire and the social security retirement age.

you want social security because it's an inflation adjusted annuity. you can't outlive your income, regardless how the currency inflates in the 30 years you may be retired.

With the nomination of Andrew Biggs to a six-year term as the next deputy commissioner of Social Security, President Bush is signaling that he doesn’t want new ideas.


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