One Way to Lose an Argument

Megan McCardle responds to this graph:

"The effect of the graph is to make it seem as if we could, by simply refusing to extend the Bush tax cuts on high earners, cover virtually all of the Social Security shortfall that is going to be putting immense pressure on the budget deficit over the next century."

Her explanation of why this is wrong is presented as a 2200 word essay. She may well be right. But her opponents in this debate apparently have so much leverage that the contest was over before the debate began.