The Failed Compromise by Llewellyn H. Rockwell, Jr.: "Republican pundits are busy separating themselves from what is stacking up to be the biggest calamity of the second Bush term: Social Security privatization. By calamity, I mean in a political sense: vast capital expended with no payoff for the regime. The result is less trust among the American people for those who pushed the reform. Just as Clinton's medical-reform scheme was said to be the source of the Democrats' undoing in 1994, Democrats now hope they can turn the Bush Social-Security failure to some kind of political advantage."

(Via Lew Rockwell.)