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Wednesday, September 21, 2005

Grassley: Katrina Killed Social Security Reform for This Year

Is Social Security reform dead, really dead, wooden stake through the heart dead for this year?  Some still haven’t given up, but Katrina ended the last bit of momentum for reform:

Grassley: Social Security reform will wait, by Jane Norman, Des Moines Register:  Ongoing battles in Congress over hurricane relief, tax cuts and spending likely mean that proposals to revamp Social Security are dead until next year, Senate Finance Committee Chairman Charles Grassley, R-Ia., said Tuesday. Grassley ... acknowledged that putting the debate off until 2006 and a midterm election year means it would be "very difficult" to accomplish any major changes, including the voluntary personal accounts for Social Security championed by President Bush. But Grassley ... said that Social Security will have to take a back seat this fall to hurricane-related legislation and possibly prolonged negotiations over the budget and tax cuts. "If we're going to adjourn by Thanksgiving, it's probably not going to be handled this year," said Grassley … He said he has heard little from other committee members about Social Security in recent weeks...

Wooden stake or not, it sounds like next year will bring the return of the living dead ("They're back...They're Hungry...And they're NOT vegetarian").

    Posted by on Wednesday, September 21, 2005 at 03:36 PM in Economics, Monetary Policy | Permalink  TrackBack (0)  Comments (5)


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