Monday, February 23, 2009


I'm glad it's been shelved, but this just isn't true.

Mr. Obama considered announcing the formation of a Social Security task force at a White House “fiscal responsibility summit” that he will convene on Monday. But several Democrats said that idea had been shelved, partly because of objections from House and Senate leaders.

The president signaled in his campaign that he would support addressing the retirement system’s looming financing shortfall, in part by applying payroll taxes to incomes above $250,000. But that would ignite intense opposition from Republicans, especially with the economy deep in recession.

Liberal Democrats are already serving notice that they will be equally vehement in opposing any reductions in scheduled benefits for future retirees. But any solution, budget analysts said, must include a mix of both approaches, though current beneficiaries would see no change.

I don't know who this mystery "budget analysts" are, but if you really thought it was important to have some budget model make Social Security be "solvent" for all eternity, it could easily be accomplished with a payroll tax increase. No mix necessary.