Prez Fred?By Lea Abdnor

The news today is that former Senator Fred Thompson (R-TN) is going to announce the formation of an exploratory committee to put his hat in the ring for the Republican nomination for President.   This is wonderful news. When he was in the Senate, he co-sponsored a bipartisan bill to fix and reform Social Security.  This is a man who isn't afraid to study an issue and make up his own mind.  Hopefully, his entry into the fray will raise the level of debate about the future of Social Security and the need for responsible candidates to discuss how to relieve our kids and grandkids from paying the huge bills for the baby boomers' retirement.

Advanced Political SpinningBy James Hamilton

DC insiders often brag about their "spinning" techniques. You know, something bad happens or something good happens, and members of Congress, lobbyists, and their respective press secretaries go wild trying to put the event into its "proper" context. It can take a while to really master political spin. Once you get it down, though, there are all sorts of advanced techniques that take spinning to new levels. Case in point:

Starting late last year, Treasury Secretary Hank Paulson began quietly reaching out to congressional Democrats to find ways to address Social Security's coming financial crisis. I actually witnessed one of these meetings when Paulson and incoming Senate Finance Chairman Max Baucus (D-MT) sat down for dinner - just the two of them - at a trendy DC restaurant. I was close enough to their table to hear the term "Social Security" tossed back and forth quite a bit. And to hear Baucus chuckle that "personal accounts were a non-starter."

So... for the past few months, Democrats have been blaming Vice President Cheney and his comment to FOXNews that "We don't believe a tax increase is necessary" as the single event that derailed Paulson's efforts. The Wall Street Journal and the Washington Post joined the Democrats earlier this week in repeating the spin. Somewhere, in some back office on Capitol Hill, Democratic staffers and their allies must be patting each other on the back.

Here's the truth: Democrats have repeatedly sideswiped any efforts to talk in a bipartisan way about the coming entitlement crisis. As I've mentioned in the last few days, they'd much rather talk about global warming - something that may or may not hit us hard in a couple of generations - than talk about giving working Americans (the very ones they claim to represent) the opportunity to have a more secure retirement.

Here's Max Baucus in a February 2007 press release: "I led the fight to defeat Social Security privatization in 2005, and I don't intend to let this bad idea back on the table."

Baucus has said that efforts to address Social Security's long-term solvency must focus on ideas that improve the program's fiscal health without raising taxes or cutting benefits. So what is his solution? What solutions do Speaker Pelosi, Ways and Means Chairman Rangel, or any other Democratic leader offer?

"     ."

That sound you hear is silence.

U.S. Comptroller General David Walker has called the coming entitlement crisis a "tsunami that will wreck the ship of state." Why are these Democrats doing nothing?

Hot Today, Bleak TomorrowBy James Hamilton

The prognosticators in Congress are taking time to ask for our help on global warming. Check out Yahoo's Answers section to submit your thoughts directly to Speaker of the House Nancy Pelosi herself. Give me a break!

Yahoo now is complicit in attempts to divert attention away from issues that really matter like, um, how much money will be left in you wallet after FICA and all the other higher taxes come out. Forget about buying a new Prius or drinking only free trade coffee at Starbuck's or living in a "green" home because you won't be able to afford any of it.

Don't believe me? Check out what the General Accountability Office's David Walker told graduates at American University earlier this month. This from the guy who runs Congress's oversight operation.

Yep. Congress and a whole lot of other folks want us to believe it's global warming that will finally cook our collective goose. Not so. Now pass me that can of Spam... I can't afford the good stuff.

An "Inconvenient" SituationBy James Hamilton

Imagine my surprise yesterday during a visit to one of my favorite bookstores: I saw Al Gore's "An Inconvenient Truth" - the former VP's polemic on global warming - in the teen section. The book's cover clearly states the contents have been re-worked for a younger audience. Gore's marketing people are geniuses!

"Grab them young." Good propagandists have known this for generations so it should come as no surprise that the global warming crowd is targeting young readers.

Michael Barone had some cogent thoughts on this recently:

"Sometimes politicians get things upside down. They ignore problems that are plainly staring them in the face, while they focus on dangers that are at best speculative.  Consider two long-range issues that are not pressing matters this year but pose, or are said to pose, threats a generation or two away. One of them you don't hear much about: Social Security. The other you hear about all the time: global warming. Yet this gets things upside down. We have an unusually precise knowledge of the problems that Social Security will cause in the future. But we don't know with anything like precision what a continuation of the current mild increase in temperatures will mean.

"Politicians resist fixing Social Security because the short-term costs are well understood by voters and the long-term benefits, while clear to actuaries, are invisible to voters because no one is decrying them with religious intensity. The politicians sprint to address global warming because the short-term costs are unknown to voters and the long-term benefits, while unclear in the extreme to those who rely on science, are portrayed in apocalyptic terms by the prophet Al Gore."

Wisdom from a FoolBy James Hamilton

The Motley Fool's Chuck Saletta said it pretty well earlier today: "The unfortunate reality is that, at its best, Social Security is little more than a safety net to help keep people out of abject destitution. Given the program's shaky financial footing, however, even that is at long-term risk."

Those who say that there's nothing wrong with Social Security that a good tax increase can't fix proudly claim that - even if nothing is done to save Social Security in the coming years - the program still will be able to pay about 70 cents for every dollar promised. That's supposed to make people feel better?!!

Saletta again: "Based on the most recently available data, the average Social Security benefit received by a retiree's family is $1,097.95 per month -- $13,175.40 per year. That's less than a full-time, minimum-wage job in some states."

So - by default - the position of those who oppose modernizing the program is this: Raise payroll taxes (hitting low-income workers the hardest, BTW) to keep a failing system operating exactly like it's done the last 72 years so that retirees can receive less than what minimum wage pays.

Sounds like opponents need to spend some more time thinking this one through.

A Mother's Take - Guest Blogger Sandra HellandBy For Our Grandchildren

Mother's Day is coming up this Sunday.  I'm sure mothers all over the country are looking forward to the hand-made gifts that their little ones have created.  My daughter is almost 13, and while I doubt she has put any time into thinking about how to celebrate Mother's Day with me, I do hope that I can talk her into some extra household chores on Sunday.

In addition to taking advantage of some extra pampering, it's a good time to reflect on our roles as parents.

Like other mothers, I think about my child's future.  I worry about paying for her college in a few years, I worry about the fact that she'll be dating soon, and I worry that Congress will never take significant action to fix Social Security for future generations.

Social Security is already a bad deal for today's workers, including myself.  And, it's an even worse deal for my daughter and her generation.  Today there are only about 3 workers supporting each retiree's benefits.  In less than 20 years, that will be down to 2 workers supporting each retiree.  That happens before I retire, and at least 30 or 40 years before my daughter retires.  If Congress does nothing to fix the system soon, my daughter surely won't be able to expect to receive any money from the system that she will start paying into in just a few short years.

I hope mothers across the country will be as disturbed by the inaction of Congress on this issue as I am.  We must demand that they fix Social Security for future generations because doing nothing should not be an option.

Happy Birthday, Dad.By James Hamilton

Today is my father's 84th birthday. He'll spend the day going to work (yes, he still works full time), visiting with my mother at her assisted living center, and then have a wonderful meal tonight lovingly prepared by my wife. His children and their spouses will surround him and sing "Happy Birthday". It should be a good day for him.

My parents are part of "The Greatest Generation". And, for me, I think they deserve that. Perhaps they only did what other parents throughout the ages have done for their children, but these are MY parents. And I'm proud of their accomplishments.

So have a great day, Dad. And know that your children and grandchildren will never desert you. Know that we value you more than we value Social Security and that we'll never do anything to take a penny away from you. Any person or organization that claims otherwise is pushing a political cause.

But Dad, let me remind you of the apple of my eye (your's too, from what you've told me): my little girl, Ruby, who'll turn three later this month. You've said repeatedly, "What did we ever do before she came along?" And I agree.

And just as you and mother sacrificed to make sure your children had the best you could offer them, I feel the same about Ruby. So what am I to do when people from "The Greatest Generation" tell me they oppose modernizing Social Security and other government programs that are robbing future generations (including Ruby's) of their ability to have a decent standard of living?

Your fatherly wisdom has helped me through many, many things. Broken arms, bruised egos, a battered marriage. What advice do you have for me now?

Go Jim CooperBy Heidi Neel

Kicking off the month of May, Congressman Cooper (D-TN) got bold with entitlement programs. He said that we should cut the payroll tax outright, because Congress is not saving it for retirement.  He argued that this would not increase near-term debt, just change the lender.  He also said it would reveal one of the pressing problems with Social Security, which is being disguised by Trust Fund accounting.

Go for it Cooper! I see little if any difference between cutting the payroll tax to protect it from Congressional spending and depositing the amount of the tax cut in a pre-funded, protected account with my name on it.

There’s no reason Congress should be spending my retirement money on the Teapot Museum in Sparta, North Carolina or the Richard Steele Boxing Club in Henderson, Nevada.

This Week in WashingtonBy Charlie Stenholm

Given the time I spent in Congress, I’m in a unique position to help current members of Congress understand the writing on the wall when it comes to the future of Social Security. These days, there hasn’t been much interest in stepping up to the plate on this issue. For my part, though, I believe a number of Blue Dog Democrats and moderate Republicans may be able to find some agreement on this issue.

On Capitol Hill right now, there's not just not that much spark for tackling this big an issue, but we're trying our best to put a little gasoline on it.

Stay tuned.

Great to be in Philly!By Lea Abdnor

Last week I attended the Heritage Foundation's conference called the Resource Bank.  This thirty year old annual gathering brings together free market conservative think tanks from all over the country, large and small. It was like "old home week" for many of the people there.  We talked with dozens of people about Social Security reform and got an enthusiastic response.  Our message:  We MUST do all we can to tell people the truth about the entitlements tsunami that is going to overwhelm the economic health in our country, starting in just a few years.

Unfortunately, in 2005 and 2006, our critics (including some incredibly irresponsible Members of Congress)  managed to do what I believe is close to criminal: twisting data to convince the American public that the entitlements problems are small and far off.  Fortunately, most of the organizations with whom we spoke were willing to step up to the plate and tell the people in their states the truth about the near future.  Stay tuned!