The Debate

A TPM reader makes an interesting point. The whole notion of private investment accounts is biased in favor of those that live an average life-span (and no longer).

What seems to be happening here is that gradually Democrats are coming around to the simple point that will serve as their main rebuttal to the Bush social security plan - and it has the added benefit of actually being true. There is NO problem with Social Security. Yes, between 2042-2055 you may have to increase payroll taxes slightly, or reduce benefits. But, even without any changes, the system is capable of paying out nearly 80% of it's promised benefits even after the much talked about "day of reckoning." So, quite simply, the Democratic plan is to simply reject Bush's premise that the "crisis is now." Unbelievably, despite all the supposed structural/message weakness of the Democrats, they seem to be coming together on this point faster than the all-powerful Republicans are able to figure out how to proceed with the debate.