This is stunning. It appears that Charles Grassley has already given up on private/personal/modernized accounts. The headline however, is, shall we say, a bit understated.
Republicans on the Senate Finance Committee signaled that they will not insist that personal accounts be part of the legislation and that they will not seek further details from President Bush about his plans for the government-run retirement program.
I love the part about not seeking further details from Bush.
I like part of one of the 4 proposals under discussion
Today's hearing will examine four plans that would keep the program solvent through 2080 in a variety of ways. Only one does not include personal accounts; it calls for an increase in the wage cap, an increase in the payroll tax and a reduction in certain payouts.
I think the Democrats should say "We are delighted by the excellent proposal by our estemed colleague and chairman Senator Charles Grassley. However, we do propose two small modifications. We see no need for the payroll tax increase or the benefit cuts, since eliminating the ceiling will make Social Security solvent."
Of course, I've said that a few times already.
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