Novak repeats Econ Larry Hunter lies about Social Security transition

[papau]

costs not being a problem.

For those that forgot who PH.D U of Minn 1981 Hunter is: Chief economist at Empower America,political advisor to Jack Kemp,independent consultant for United Seniors Association,independent consultant for Competitive Enterprise Institute,research fellow, Institute for Policy Innovation
executive director, Alliance for Retirement Prosperity - A PERSON WHO IS famous for "Who’s Afraid of the National Debt? (http://www.ipi.org/ipi/IPIPublications.nsf/PublicationLookupFullTextPDF/A1ECABBE96CC43CD86256A940071EBA5/%24File/PR159-Hunter-DebtIsGood-FINAL.pdf?OpenElement)", Institute for Policy Innovation, July 2001 where the tax cuts are too small and the coming cut backs in Bush spending would cure everything. Like Merril Matthews at
Human Events who was going to save the Social Security Surpluses through 2018 (and not spend them on the tax cut for the rich) so as to fund private accounts, and now re-uses those "surplus again today to argue for private accounts, Hunter even has a February 26, 2001 Wall Street Jornal Editorial "Lowballing the Surplus-Americans should know just how much they are overpaying the government. -...federal budget surpluses are rising like the waters around Noah. But here's the bad news: The flood is going to be even worse than you've been told, which is why we deserve a much bigger tax cut" that is based on his "work"! He does use the numbers from the half qualified Social Security Chief Actuary (a GOP hack that is an Associate - but not a fully quaified Fellow - of the SOA - Sociaty of Actuaries).Indeed give this idiot Hunter a spreadsheet and he will increase the assumption for US economic growth by 1% and cut gov spending to 1% less than GDP growth - and the world's problems are solved! Back in 2001 that 1% less than GDP expense growth over the 8 years of Bush was going to reduce federal spending from the then expected 20 percent of GDP to 18.4 percent of GDP - anyone want to bet the farm on this fellows numbers?

Anyone want to guess when the mainstream media will have the guts to scream "YOU ARE LIARS" to the Grover Norquist crowd?

In any case:

http://www.cnn.com/2004/ALLPOLITICS/12/30/transition/index.html

What transition costs?
Thursday, December 30, 2004 Posted: 2:57 PM EST (1957 GMT)

WASHINGTON (Creators Syndicate) -- In the more than 41 years that I have been writing columns, nothing has generated more unfavorable comment from conservatives than my December 6 report on Republican Sen. Lindsey Graham's Social Security plan.

He would finance the transition costs for private Social Security accounts by raising payroll taxes. Of all the outraged critics from the Right who contacted me, economist Larry Hunter had the most pungent rebuttal: "There are no transition costs."

If that is so, I asked Hunter, can you write me a one-page explanation to buttress your remarkable claim?

Nearly a month later, he gave me three single-spaced typewritten pages plus four colored graphs. Actually, they portray an increase in federal expenditures forced by private accounts -- that is, transition costs.

Hunter's point: There would be no long-term net transition costs. Doing nothing will cost much more, beginning as early as 35 years from now. (Hunter's analysis will be published by the Institute for Policy Innovation.)<snip>