Entitlement reform

I don't usually sign the sorts of "500 economists agree with X" statements that I am invited to sign every few months, but I did decide to add my name to this one on entitlement reform.

I agree with basically all it has to say, though I would add that we also need a major rethink of, and reduction in, our ideas about military involvement overseas. Welfare to farmers and corporations should go as well. The bright side of having our public finances run by drunks for the last 10 years is that opportunities for budget cutting are literally everywhere.

Another reason I signed this particular petition is the involvement of Doug Holtz-Eakin, who is doing a very good thing indeed by devoting himself to improving public policy rather than cashing in on his experience in the Bush II administration.