Whither Social Security?

The WashPost is concerned about a “Social Security breakdown” that leaves behind either no reform at all, or bad policy:

The Social Security discussion is heading in the wrong direction because it is starting from the wrong principle. The fundamental questions that Congress and the administration ought to be tackling are, first, how to put the program on a sound footing, and second, how to do so while protecting those in greatest need. The administration is dangling the prospect of personal accounts without advancing a proposal to achieve solvency. The Democrats are closing their eyes and sticking their fingers in their ears. Neither approach will get us very far.

I agree that President Bush has not adequately elucidated the hard choices that will go with personal accounts. But how irresponsible are the Democrats? They’re currently on the “do nothing” tour that will lead to automatic benefit cuts in 2042 (see graph below).