The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
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Social Security Reform Thursday: Fifty-Three -- Chinese Pay-As-You-Go Failure.
Thursdays are good days for reform, because they fall between Wednesdays and Fridays. Just because the status quo'ers got their way in 2005 does not mean the problem has gone away. Indeed, it's getting worse with each passing day. Thus, Reform Thursday continues.
That's why WILLisms.com offers a chart or graph, every Thursday, pertinent to Social Security reform.
This week's topic:
China's Demographic Crisis.
This week in the U.S., the CDC's National Center for Health Statistics released data showing that the annual number of American deaths dropped by nearly 50,000 in 2004— the sharpest decline in nearly 70 years:
Meanwhile, life expectancy crept upward yet again:
It's a testament to science, medicine, and technology. The 25 year trend is also a testament to economic progress.
This is also terrible news for the long-term solvency of Social Security and other unreformed entitlement programs.
Pay-as-you-go funding systems, the pyramid schemes that they are, are doomed to fail. Everywhere. Always.
Unless you can somehow guarantee a combination of immigration, birthrates, and economic growth that indefinitely outpace medicine's ability to keep us alive longer, pay-as-you-go systems will fail. Period.
As The Economist points out, even China is learning this fact:
Over the next 10-15 years, the rapid ageing of the population will increasingly make itself felt. As the labour force begins to shrink, the current pay-as-you-go pension system will become unsustainable. Life expectancy in China is high by the standards of developing countries and is likely to go on rising…
China is particularly hard hit because of its "one child" policy:
Increasing numbers of retirees, plus decreasing numbers of young workers, equals major problems.
That's because pay-as-you-go funding systems are not sustainable over the long run. Anywhere. Ever.
It's time for reform.
The clock is ticking:
Previous Reform Thursday graphics can be seen here:
-Week One (Costs Exceed Revenues).
Tune into WILLisms.com each Thursday for more important graphical data supporting Social Security reform.
Posted by Will Franklin · 20 April 2006 02:24 PM
Could it have something to do with the world getting warmer? It's been well established that cold is a killer, so warmth saves lives, doen't it?
Posted by: JohnJ at April 20, 2006 11:14 PM
And we've been working so hard to instill demography in other countries. What a quagmire!
Posted by: JohnJ at April 20, 2006 11:33 PM
I have never even thought about the long term effects on the economy of having a one child policy. It is really scary to think of the weight of the eldery on such a small younger population.
Posted by: fantasy fan at April 21, 2006 02:46 PM