Thursday, February 03, 2005

SOTU sputter

I'm curious, what will Bush do when he finally realizes there is no future for his Social Security privatization plan? Will private accounts go the way of school vouchers? After last night, I doubt it. Private accounts were the ONLY thing Bush mentioned and what was really astounding was he didn't admit that these accounts do nothing to solve Social Security's long term funding problems, such as they are. So what will Bush do when it becomes clear that there is little chance of Congress passing legislation to create private Social Security accounts?

My bet...He'll stop talking about it, as he did early in his first term, let the plan whither and use his next SOTU to push for an overhaul of the tax code. The challenge for Dems is to make voters remember that Bush wanted to gut the popular social program and they "saved" Social Security. They might add, once the tax code overhaul debate is in full swing next year, that since Bush failed to reward his rich friends on Wall Street with private accounts for Social Security, he now wants to find another way, through changing the tax code to benefit the rich at the expense of the middle class.

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