One simple point on Social Security reform

Social Security offers cash benefits, whereas Medicare is an in-kind benefit, in the form of health care (which in turn is distinct from health, itself another in-kind benefit).  Therefore always cut Medicare first.  (Addendum: a better phrasing here is "At current policy margins, or those we are likely to encounter, always cut Medicare first.")

That's all.

Addendum: Ezra Klein comments.


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