Lest there be any doubt about the new statement from Secretary Snow reported in CQToday, this is part of a renewed sixty day push for phase-out,as reported in Congress Daily PM. Diverting payroll taxes into private accounts is the most obvious but far from the only way to phase out Social Security. And that is still clearly the goal. Money can be shifted around in creative ways. Private accounts can be created on the outside which intentionally bankrupt the Social Security program, etc.
So for the moment, while recognizing the sign of desperation that this is, it would be foolish to see this as anything but a strategic retreat made in order to keep alive the original objective.
The president has spent three months pushing for phase-out. That’s still his goal. It remains to him to put a concrete proposal on the table.
