Monday, January 15, 2007

Still Eating Our Social Security Seed Corn

Rep. Mike Pence (R-IN) says the Bush administration needs to get off the idea of Social Security solvency as the top priority of reform and focus on creating a better deal for young people. He suggests this could be an issue in 2008.

Republicans surrendered the high ground when they didn't end the practice of spending the current payroll tax surplus each year. Personal accounts need to happen and will happen eventually, but the argument has likely been too damaged for that to happen very soon.

Of course Pence is right that raising payroll taxes would be a horrible idea. The tragedy is that this even has to been stated.