Krugman continues to oppose SS reform. He is obviously one of the front men for the Democrats with the NY Times backing him editorially and philosophically.His statement below may not be true. A vibrant economy in and or itself will not increase the payroll taxes that fund SS unless the working population increases or the tax rate is increased above 12.5%. A growing economy may not produce more jobs. It may be growing because we are more efficient in our use of U.S. labor.In any event, ANY projection by either side out 75 years is absurd. Let's be realistic here!
"They can rescue their happy vision for stock returns by claiming that the Social Security actuaries are vastly underestimating future economic growth. But in that case, we don't need to worry about Social Security's future: if the economy grows fast enough to generate a rate of return that makes privatization work, it will also yield a bonanza of payroll tax revenue that will keep the current system sound for generations to come."
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