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Reply #50: The problem isn't that they'll default. [View All]

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Igel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-22-04 10:11 PM
Response to Reply #49
50. The problem isn't that they'll default.
But that means general revenues have to replace the bonds. This is at the same time that medicaid/-care costs will be increasing for the wave of 65+ people.

Krugman's being a bit disingenuous: the tax increase he wants assumes that redeeming trust-fund bonds will be painless. I don't think it will be (but also haven't even tried to crunch the numbers--a lot of it depends on what you base your projections on).
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