Wed, 11/23/2011 - 9:30am - 9:50am
Political science professor Thomas Ferguson on the failure of the "Super Committee"
Host Michelle Schroeder Fletcher interviews Thomas Ferguson, professor of political science at the University of Massachusetts, Boston and a senior fellow of the Roosevelt Institute, about the significance of the failure of the Congressional budgetary Super Committee and what it bodes for the future.
Ferguson says, "Read the fine print on the 'crisis' in Social Security and you discover that even critics, such as Peter Orszag (President Obama’s former OMB chief), admit that under their pessimistic assumptions Social Security payments might rise by all of one percent of GDP by 2050! Social Security is obviously a non-problem, especially in the middle of the Great Recession.