Tuesday, March 01, 2005

Scaled-back Attack on Social Security

Mikaela says:
Republicans are starting to look around for a compromise that saves face for the President while still attacking Social Security as a social program:

This from Paul Krugman of the New York Times:
[P]rivate accounts, once established, would be used as a tool to whittle down traditional guaranteed benefits. For example, conservatives would use the existence of private accounts, together with rosy scenarios about rates of return, to argue that guaranteed benefits could be cut without hurting retirees.

In short, anyone who wants to see the nation return to fiscal responsibility, wants to preserve Social Security as an institution or both should be opposed to any deal creating private accounts. And there is also, of course, the political question: Why should any Democrat act as a spoiler when his party is doing well by doing good, gaining political ground by opposing a really bad idea? (Hello, Senator Lieberman.)

The important thing to remember is why the right wants privatization. The drive to create private accounts isn't about finding a way to strengthen Social Security; it's about finding a way to phase out a system that conservatives have always regarded as illegitimate. And as long as that is what's at stake, there is no room for any genuine compromise. When it comes to privatization, just say no.