In recent days, countless statements have been made about the bailout. But I think I like best something Sen. Lindsey Graham said. He said, “I’m going to choose the bad choice over the catastrophic choice.” And then he said, “We don’t have the luxury of kicking this can down the road like we did with immigration or Social Security and dealing with it another day, hoping somebody braver than us will come along and have courage that we can’t muster to deal with immigration or Social Security. This is on our watch.”
I have never been a Graham man, really — never a Graham cracker (although I’m very much a Gramm cracker). But I thought this statement was both insightful and standup. And what politician had the courage, by the way, to attempt a lasting answer on immigration and Social Security? The president, George W. Bush.
He may have been wrongheaded about immigration – too amnesty-minded. But he was certainly right about Social Security. That is clear even now, as markets are going nutso. Any “personalization” would have safeguards. And what safeguards does the current program have, heading as it is into poverty and bankruptcy?