O, Wonder!

How many goodly creatures are there here!

President Bush's bid to add individual accounts to Social Security faces such formidable opposition in the Senate that its supporters may be unable to bring it to a vote, according to a Washington Post survey of senators.

An overwhelming majority of Democratic senators said they will oppose, under any circumstances, Bush's plan to allow younger workers to divert a portion of their Social Security payroll taxes into individual investment accounts that would follow them into retirement. A few others said they will not support such accounts if they require substantial government borrowing. Even many Republicans say that is inevitable because the alternative involves unacceptably large cuts in benefits or tax increases to replace the diverted taxes or both.

This is encouraging, in that it includes some of the 'loathsome scum' who voted for the bankruptcy bill. But, as I wrote Wednesday, the full assault has just been launched. Stay tuned.

Update: Krugman has a nice backgrounder in anticipation of the coming Trustees report.