There were sighs of relief all over Washington when the President announced his Social Security plan last week. Those of us who want to protect and preserve the program were expecting much worse. The President's plan did neither of these things, but it's a bit too early to pop the cork on the champagne.
Privatization remains a real and present danger.
Congressional Republicans probably won't swallow this part. Fine, but let's put the money into individual accounts. That would seriously undermine the guaranteed benefits and stability that Social Security has always provided for America's elderly, while creating enormous administrative waste. And there is no telling whether the President would sign such legislation if it were to pass Congress. After all, the whole point of his plan is to get himself a legacy other than being the first President to be impeached in 130 years.