Wednesday, April 2, 2008

We knew this already--but keep reminding us

Anyone who reads this blog knows about the US entitlement problem. Treasury Secretary Paulson took the first of twelve steps by recognizing that the problem exists:
The Social Security program is financially unsustainable and requires reform...[and] the Medicare program poses a far greater financial challenge than Social Security.
Not exactly a rousing call to arms. I prefer Cato's characterization as it comes close to using what is known as the "dead baby defense". If you can link a policy to infant mortality, you win the debate.
...It cannot pay future benefits without drowning our children and grandchildren in a sea of debt and taxes.

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