Friday, December 22, 2006

Bush's Legacy Won't Be Iraq

Whenever personal Social Security accounts are finally implemented in America, a lot of people will call them "Bush accounts" no matter whose signature makes them a reality.

Fighting in the Middle East has been going on for a long time and George W.'s successors in office will preside over more of the same. What will be different and memorable will be the liberally derided Ownership Society gaining steam just as its loudest opponents take power.

The Democratic Party can't survive a large-scale increase in stock ownership in this country. And the "There is no crisis in Social Security" crowd knows it.

Congressional Democrats know they must escape the surrender monkey chattering if they are to have any hope of warming the office furniture in their new leadership offices for long. But our liberal activist friends might want to google Sarbanes Oxley to get a good idea of what is coming next. This bad corporate regulation measure -- which Bush signed -- has been holding publicly traded companies back even as the Dow stalks 13,000. Sarbanes Oxley has to go. When it does, it will become far more difficult for Social Security reform opponents to get away with calling the stock market a "risky scheme."

President Bush deserves a ton of credit for staying strong on the War on Terror. And he will get it. But the Ownership Society will be what he is remembered for most. The war as an issue to bludgeon Republicans will disappear quickly. But deciding whether we want to really pursue greater prosperity in America or waste time legislating huge raises for middle-class teenagers will have the real lasting impact on our nation.