Thomas Friedman Goes Big Getting It Wrong, Again

There are many people in the country that have very little understanding of economics. As an economist, I would like to see everyone be at least somewhat literate in the area, but this is the way of the world. It's not really that big of a problem in most cases, but it is when they write pieces on economic policy for the New York Times.

Yes, Thomas Friedman is at it again, bemoaning the fact that President Obama hasn't embraced the big cuts to Social Security and Medicare proposed by former s...