Tuesday, March 15, 2005

Econ: Krugman Krugman Rah Rah Rah

The argument over Social Security privatization isn't about rival views on how to secure the program's future - even the administration admits that private accounts would do nothing to help the system's finances. It's a debate about what kind of society America should be.

And it's a debate Republicans appear to be losing, because the public doesn't share their view that it's a good idea to expose middle-class families, whose lives have become steadily riskier over the past few decades, to even more risk. As soon as voters started to realize that private accounts would replace traditional Social Security benefits, not add to them, support for privatization collapsed.

But the Republicans' loss may not be the Democrats' gain, for two reasons. One is that some Democrats, in the name of centrism, echo Republican talking points. The other is that claims to be defending average families ring hollow when you defer to corporate interests on votes that matter.
And with friends like this, who needs enemies?
So anyone who repeats the $600 billion line is helping to spread a lie. That's why it was disturbing to read a news report about the deputy commissioner of the Social Security Administration, who must know better, doing just that at a pro-privatization rally.

But in his latest radio address, Mr. Bush - correctly, this time - attributed the $600 billion figure to a "Democrat leader." He was referring to Senator Joseph Lieberman, who, for some reason, repeated the party line - the Republican party line - the previous Sunday.

My guess is that Mr. Lieberman thought he was being centrist and bipartisan, reaching out to Republicans by showing that he shares their concerns. At a time when the Democrats can say, without exaggeration, that their opponents are making a dishonest case for policies that will increase the risks facing families, Mr. Lieberman gave the administration cover by endorsing its fake numbers.

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