Tomorrow marks the 75th anniversary of FDR’s signing of the bill that created Social Security. Despite—or perhaps—because of the program’s popularity and success, the austerity party has its knives out for it. Keyed to the anniversary, the Center on Budget and Policy Priorities has published a very useful factsheet on Social Security: how it’s reduced poverty among the elderly, and how it offers quite a few services for the young. It’s been a while since I did a piece in LBO on the preposterous assumptions behind the projections of the system’s imminent… Read More