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PAUL KRUGMAN on "Hardball" says of the social security mess:

"this is a fake crisis."

Peter Peterson's remarks in the same interview are worth a look. Here's a taste:

I think what we ought to be doing is looking at about three interrelated problems, Chris � the budget deficit, which is .. scheduled to be another $5 trillion or so over the next 10 years; the current account deficit .. concerns me mightily. It is now approaching the stratospheric level of 6 percent of the GDP, where we�re borrowing $600 billion a year, heading north. And I think we should be very concerned about whatever we do to build confidence in foreigners, so they�re willing to lend us money, while we fix the fundamental problem, which is to increase savings.

Posted by Greg Ransom | TrackBack