Four Myths About Social Security

Social Security is a hot political (and economic) issue that is fraught with misperceptions and misunderstandings. Arnold Kling writes,

"The transition cost myth is one of four Social Security misconceptions that I want to address here. The others are the misconception that Social Security is a pension, the misconception that the Baby Boom is the main problem with Social Security, and the misconception that Medicare is in worse shape than Social Security. Although there is an element of truth behind each of these
misconceptions, what is reported in the press and believed by the general public is more myth than reality."

Read the full essay here.