The
Star Tribune reports that Rep. Martin Olav Sabo (MN-5) will introduce Social Security legislation:
U.S. Rep. Martin Sabo announced today that he will introduce a bill in Congress that he says will guarantee Social Security solvency through 2080 by increasing the interest rate on Treasury bonds in the Social Security trust fund.
Sabo, D-Minn., said, though, that his bill does not stand much of a chance in the Republican-controlled House.
He criticized President Bush's plan to restructure the Social Security system by allowing younger workers to invest part of their Social Security taxes in stocks and bonds.
The strategy the Democrats seem to have been employing is twofold: attack Bush's non-existant plan while withholding their own, as a Democrat-led plan would add to the mistaken idea that we need to rush into private accounts. Despite his opposition to Republican plans, will this bill give credence to the Bush propaganda that Social Security is in crisis? Or is this the right kind of moderate solution to a moderate problem? Will his name become fodder for those who seek to find a member of Congress to call Social Security piratization "bipartisan"? Time will tell as details are scant.