The Hill: Senate Democrats want to put the Social Security trust fund in a lockbox and insulate it from a broader budget-cutting package designed to reduce the national deficit.
It’s a revival of the concept that former Vice President Al Gore (D) made famous when he sparred with George W. Bush over a proposal to invest a portion of Social Security funds in the private market.[...]
Leading Senate Democrats say Social Security reform should not be part of a deficit reduction package under negotiation.
Senate Budget Committee Chairman Kent Conrad (D-N.D.), who is at the center of bipartisan talks, said he wants to prolong the solvency of Social Security to 75 years. Under its current setup, the program is projected to pay 100 percent of benefits for the next 26 years.
But Conrad does not want Social Security to be part of a broader proposal to reduce the $1.6 trillion federal deficit. [MORE]
This isn't serious thinking. Spendthrift Congress members are expert lock pickers and have raided Social Security funds in the past. Nothing about this proposal would stop it in the future. Furthermore, trying to balance our budget without addressing Social Security is a fantasy. Everyone knows that Social Security is one of the big three items blowing a whole in our budget. It simply cannot be left out of the equation.
The left love to accuse Republicans of being the party of No Ideas, yet time and time again, Democrats prove themselves to be the Party of Failed Old Ideas.
Via: Memeorandum
Via: The Hill