DLC/Third Way Dems reject carve out SS accounts - likely favor add-on

[papau]

http://www.latimes.com/news/nationworld/nation/la-na-centrists5jan05.story

http://www.latimes.com/news/nationworld/nation/la-na-centrists5jan05.story
THE NATION
Social Security Battle Likely
In a possible setback to White House efforts, two Democratic centrist groups plan to take a stand against individual investment accounts.
By Ronald Brownstein
Times Staff Writer

January 5, 2005

WASHINGTON — Two groups of prominent Democratic centrists plan to oppose the centerpiece of President Bush's proposal to restructure Social Security, potentially dimming administration hopes of building bipartisan support for its top domestic priority.

The Democratic Leadership Council, the party's leading centrist organization, and Third Way, a new group working with moderate Senate Democrats, expect to issue statements soon opposing Bush's push to divert part of the Social Security payroll tax into accounts that individuals could invest in the stock market, officials of the groups say.

The opposition is significant because both groups have aggressively argued that Democrats should not flatly resist changes to Social Security. Also, in the past some of the leading officials associated with the Democratic Leadership Council have backed the type of private investment accounts Bush is promoting.

But several factors — including the bitter political divisions on Capitol Hill, the stock market's mixed performance in recent years and the reemergence of large federal budget deficits — have reduced the number of Democratic centrists open to the idea.

Reflecting that is the impending move by the leadership council and Third Way to join Democratic liberals in arguing that Bush's restructuring plan would exacerbate, rather than alleviate, Social Security's long-term financing problems.

"We will probably come out for a modernization program for Social Security, but it will not be the Bush program," said Al From, the leadership council's founder.<snip>

[Justitia]

1. yeah, from Al From, it will probably be worse

I trust Al From as much as I trust GWBush.

[KoKo]

2. Notice he uses the word "modernization" ...typical Repug speak...From

needs to go at the party he truly belongs to.