January 5, 2005
CLINTONISM R.I.P.:
Social Security Battle Likely: In a possible setback to White House efforts, two Democratic centrist groups plan to take a stand against individual investment accounts. (Ronald Brownstein, January 5, 2005, LA Times)
Two groups of prominent Democratic centrists plan to oppose the centerpiece of President Bush's proposal to restructure Social Security, potentially dimming administration hopes of building bipartisan support for its top domestic priority.The Democratic Leadership Council, the party's leading centrist organization, and Third Way, a new group working with moderate Senate Democrats, expect to issue statements soon opposing Bush's push to divert part of the Social Security payroll tax into accounts that individuals could invest in the stock market, officials of the groups say.
The opposition is significant because both groups have aggressively argued that Democrats should not flatly resist changes to Social Security.
Having the supposedly reformist wiong of the Democratic Party oppose a reform favored by 60% of voters--and even higher percentages of younger ones--does though clarify the fight for the future nicely and also has to suggest to genuinely conservative Democrats, like Blanche Lincoln and Evan Bayh, that they are in the wrong party. Posted by Orrin Judd at January 5, 2005 8:44 AM
That may be so OJ but party loyalty usually trumps common sense because these pols need the party support to get reelected.
If Dems are firmly opposed to SS reform then the GOP will have to do it solo. Which means it probably won't happen as there are enough weak-kneed GOPers to block reform.
On a related note there is discussion that one of the reform proposals would change benefits from rising at the rate of wage growth to the rate of inflation growth. This would significantly reduce the future benefits calculated and in turn the unfunded liability. Some pundits and bloggers argue the Dems should vote for this change because it would significantly undercut Bush's argument that private accounts are necessary to fix SS.
Posted by: AWW at January 5, 2005 9:24 AMPersonal ambition trumps all.
Posted by: oj at January 5, 2005 9:32 AM