Wednesday, June 04, 2008

Arnold Kling likes Congressman Paul Ryan's reform proposal for Social Security, Medicare, and Medicaid. I agree. In one sense, the proposal is too late. The Democrats control congress now, and Bush is a lame duck. In another sense, it's too early. Surely Congress will put off making a choice between tax increases and cuts in promised benefits for as long as possible. I doubt we'll see entitlement reform in the next five years, even if a fiscally expansive Obama presidency accelerates the fiscal crunch.

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