Butter no parsnips

Josh Marshall:

In the context of Social Security, what exactly is ‘solvency’? And just what are we looking for when we say we want to find it? I pose these questions because the president's new ‘plan' has placed them in a much higher relief for the following reason. According the Social Security Trustees' rather pessimistic estimates, in 2041 or 2042, the Trust Fund will run out and benefits will have to be cut by just over 25%. President Bush calls that ‘bankruptcy’. On the other hand, President Bush's 'plan' cuts benefits by about the same amount. And he calls that ‘solvency’...