CEPR - Center for Economic and Policy Research

Multimedia

En Español

Em Português

Other Languages

Home Publications Blogs Beat the Press How Does the NYT Know That "Many House Republicans See a Need to Revamp Social Security?"

How Does the NYT Know That "Many House Republicans See a Need to Revamp Social Security?"

Print
Tuesday, 05 April 2011 04:24

That is what the NYT told readers this morning. Of course the NYT has no ability to determine what needs politicians actually see, if in fact they do see anything. Politicians get elected by appealing to powerful interest groups who can supply them the money and support needed to win elections. They are not required to have visions of the country or the economy. What they present to the public as their vision is what they say, it may have nothing to do with what they actually believe.

The correct way to have reported this information would have been to tell readers that many Republicans "say" they see a need to revamp Social Security. It may have also been worth reminding readers that the Social Security trustees project that the program could pay all scheduled benefits for more than a quarter century and that after this date it would still be able to pay close to 80 percent of scheduled benefits, even if nothing is ever done to change the program. The benefit that is payable after 2037 would always be considerably larger than the benefits that retirees receive on average today.

Comments (4)Add Comment
Reporter's role
written by Dom, April 05, 2011 11:13
To me, the definition of reporter is a person who reports facts and s/he is not supposed to add any of his or her own opinions. I've seen a lot of reporters who express their opinions in their reports. I'm sure that they are told to do so for marketing purposes. This is not professional and has been causing many problems since some people don't have critical thinking ability. As far as Social Security is concerned, I agree that the benefit that is payable later would be larger than the benefits that retirees receive now. But some retirees had to choose the option of taking the benefits early due to layoffs. I feel sorry for them that they had to make such a hasty decision.
Actually Dom ...
written by OJC, April 05, 2011 4:18
... I went directly from layoff to unemployment to early retirement. I calculated total income and figured out that break-even between more years at less money/year came at age 80, ignoring inflation. So don't feel sorry; the decision may not have been so hasty.
...
written by urban legend, April 05, 2011 6:52
It may have also been worth reminding readers that the Social Security trustees project that the program could pay all scheduled benefits for more than a quarter century and that after this date it would still be able to pay close to 80 percent of scheduled benefits, even if nothing is ever done to change the program.

And one of these days someone will note that the "doomsday" in the projection based on the "most likely" assumptions is almost as far in the future as it was in 1997 (27 years vs. 32 years. If those projections could be written in stone, it should 13 years after 1997 have said 19 years from now.

It's hard to project developments 25 and 30 years from now. That's why the exhaustion date projected for the Trust Fund surplus has bounced around so much -- and usually that bouncing has pushed doomsday further into the future.

Under those circumstances, where doomsday indeed may never arrive, it is responsible to be asking anyone to pay more now, or to take cuts in their future benefits?
...
written by womens ed hardy shoes, April 09, 2011 4:05
one of the virtually influential new labels that rich person burst on the womens ed hardy shoes scene realise to be the highly fortuitous known tattoo style designs Ed Hardy. conduct you in Ed-Hardy way! The tattoo design of mens ed hardy shirts incessantly leads the fashion trend.

Write comment

(Only one link allowed per comment)

This content has been locked. You can no longer post any comments.

busy
 

CEPR.net
Support this blog, donate
Combined Federal Campaign #79613

About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

Archives