Kevin Drum is consistently dishonest in the way he presents his arguments. For example, check http://www.csmonitor.com/2005/0127/p09s01-coop.html
In this article he claims that in the history of SS reform an "implicit bargain" was made when the SS tax was raised in the early 80's that when the boomers began to retire and the SS trust fund began to cash in its T bills "the wealthy" would finance this by accepting a larger, more progressive income tax.
The origin of this "implicit bargain" seems to be Mr. Drum's frontal cortex; he gives no references. I remember a bit of the debate at the time and I can't remember reading anything about this "implicit agreement". I could state with equal authority that the "implicit agreement" was that SS would begin to be privatized in the 90's, when the boomers were in their peak earning years, and that thereafter the financing of the federal government and the financing of indivual's retirements would no longer be entangled.
Note also his assumption that, if his "implicit agreement" were true, "the wealthy" of the early 1980's would have the ability to bind "the wealthy" of 2018 to an unwritten agreement that benefitted only the former. Neat trick.

He also forgot to mention that Jordan has refused to release the video of that speech. I can only infer that it is damning.

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