It is enough if he thinks this is true…

"Anybody who thinks borrowing money for the transition to personal accounts is going to solve the problem of the long-term solvency of Social Security doesn’t understand the size of the problem," said Senator Charles E. Grassley, Republican of Iowa, the chairman of the Senate Finance Committee, which has jurisdiction over the retirement system.

Here is the full story, NYT password required but invaluable reading, or try the archive link.

Addendum: Read Brad DeLong for more.


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