Jun 2, 2014

What A Blindingly Obvious And Blindingly Stupid Idea

     From the Washington Post's Wonkblog:

Reps. Tom Cole (R-Okla) and John Delaney (D-Md) introduced a bill Friday that would create a bipartisan commission to improve Social Security. 

Cole, a senior Republican on the House Appropriations Committee, is partnering with Delaney, a junior member of the House elected in 2012, to propose a 13-member Social Security Commission that would have a year to come up with a list of recommendations for improving the program. As it stands, the Social Security Administration has enough funds to pay full benefits through 2033, according to the latest trustees report.
     I call this a blindingly stupid idea because there is zero chance any such commission could reach a consensus and zero chance that this Congress would approve the recommendations of a divided commission. All this could produce is pointless controversy. No Democrat will vote for benefits cuts. No Republican will vote for either tax increases or benefits cuts. And that includes these two Congressmen who apparently believe some magician can come up with another way. They may even be dumb enough to think that private accounts will save Social Security! Any diversion of Social Security revenues to private accounts just makes whatever funding problems there are worse. Anyone who studies the matter for more than 30 seconds realizes that.

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