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Thursday, November 15, 2012

Krugman on a Different 'Zombie' Apocalypse

In his Friday column,  the NYT writer/economist returns to one of his favorite subjects:  "zombie" wrong ideas and notions that just won't die.  In this case its surrounds life spans and raising the social security age.  I've long blasted idea that just because people are living a little longer that doesn't mean they are capable of working at many jobs to an older age nor that suitable jobs are out there--or they will take jobs younger folks desperately need.  Paul goes further in showing that the much-touted gain in life span is not evenly distributed--not showing up much among the lower classes, for example.
And right now the most dangerous zombie is probably the claim that rising life expectancy justifies a rise in both the Social Security retirement age and the age of eligibility for Medicare. Even some Democrats — including, according to reports, the president — have seemed susceptible to this argument. But it’s a cruel, foolish idea — cruel in the case of Social Security, foolish in the case of Medicare — and we shouldn’t let it eat our brains.

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