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Senator Graham’s Magical Napkin
(By – Brenton Smith)
Over and over again, the media and experts tell us that financing shortfall in Social Security is relatively easy to address. Conventional wisdom presents options for Social Security as though the problem with system is one of political will rather than one of economic resources. Basically if politicians could just get along, all of Social Security’s troubles would evaporate. The latest to make this claim is Lindsey Graham, who reportedly said “you could [design a plan to fix Social Security] on the back of a napkin.” There is no way to be polite about this statement. If you believe that Social Security can be solved in 15 minutes or on the back of a napkin, it is because you have an inner struggle with the meaning of commas and zeros in very large numbers. The problem isn’t politics. It is economics. Read more…