“ Will lawmakers rise to the challenge—or will they let the debt crisis define our nation’s legacy?”
Very good piece.
Unfortunately, the most likely scenario is almost but not as bad as your downside framing choice.
The most likely scenario is that they will choose “‘muddle through”, addressing only what they need to when there is no choice, and we will survive but collectively be worse off for it.
A plan requiring masses of politicians to “rise to the challenge” is unlikely to succeed.
Great to see you and Dave Walker making the bell-clear case for Congressional action to put guardrails around debt accretion. Multi-pronged strategy is the only means to get there.
It’s either reform entitlements like Social Security now, or have them become next to worthless in the future. The American people may not know who to blame when that happens, but _you_ will.
“It’s either reform entitlements like Social Security now, or have them become next to worthless in the future.”
No, those are not the two alternatives.
Entitlements will NOT become worthless, but if reform is not done then the benefits at some point will indeed somewhat suddenly become worth a lot less.
Making mostly false histrionic statements is unlikely to sway anyone. It surely didn’t work for the Dems this cycle…
I said _next to_ worthless. As in _almost _ worthless.
If people spend their benefit checks as soon as possible after those checks hit their bank accounts, for fear that the buying power will decline precipitously, because of inflation…
“ Will lawmakers rise to the challenge—or will they let the debt crisis define our nation’s legacy?”
Very good piece.
Unfortunately, the most likely scenario is almost but not as bad as your downside framing choice.
The most likely scenario is that they will choose “‘muddle through”, addressing only what they need to when there is no choice, and we will survive but collectively be worse off for it.
A plan requiring masses of politicians to “rise to the challenge” is unlikely to succeed.
We need to somehow change their incentives.
Great to see you and Dave Walker making the bell-clear case for Congressional action to put guardrails around debt accretion. Multi-pronged strategy is the only means to get there.
It’s either reform entitlements like Social Security now, or have them become next to worthless in the future. The American people may not know who to blame when that happens, but _you_ will.
“It’s either reform entitlements like Social Security now, or have them become next to worthless in the future.”
No, those are not the two alternatives.
Entitlements will NOT become worthless, but if reform is not done then the benefits at some point will indeed somewhat suddenly become worth a lot less.
Making mostly false histrionic statements is unlikely to sway anyone. It surely didn’t work for the Dems this cycle…
I said _next to_ worthless. As in _almost _ worthless.
If people spend their benefit checks as soon as possible after those checks hit their bank accounts, for fear that the buying power will decline precipitously, because of inflation…