Bloggers for the "Head in the Sand" Approach

I couldn't disagree with these folks more, but I do think the fact that this debate is taking place in this manner in the blogosphere is wicked cool.

I find Will Wilkinson's argument much more compelling:

Advocates of status quo-ish approaches are stuck arguing that the future's going to thread the needle of conditions under which the system is viable. Now, I don't know, and neither do they, whether their favored forecast will become reality. But it remains that a well-designed institution should be robust under a broad range of future conditions. Our PAYGO system just isn't. Small differences in the rate of growth, rate of increase of life expectancy, and so on, shouldn't make or break the system. Of course, there is no system that can reliably withstand dramatic changes in any variable. But we should at least aim for a system that is fairly adaptive and robust against moderate changes in growth, population, employement, and aging.