Krugman: Jabbing the Spear into the 'Soft Underbelly of the Welfare State'

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Tue Feb-08-05 03:55 PM
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Krugman: Jabbing the Spear into the 'Soft Underbelly of the Welfare State'

Krugman: Jabbing the Spear into the 'Soft Underbelly of the Welfare State' -- Social Security
Excerpt: "Here's how it would work. First, workers with private accounts would be subject to a 'clawback': in effect, they would have to mortgage their future benefits in order to put money into their accounts. Second, since private accounts would do nothing to improve Social Security's finances - something the administration has finally admitted - there would be large benefit cuts in addition to the clawback." (The New York Times

http://www.nytimes.com/2005/02/08/opinion/08krugman.html?ex=1265605200&en=349e9ee8748d0b59&ei=5090&partner=rssuserland

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