In a television interview last weekend, President Bush said Social Security reform was "still alive" and again declared that it would be one of his top goals when the next Congress convenes. Of course, that's what Bush said right after the 2004 election. And despite pushing the issue hard and personally campaigning for it around the country–60 cities in 60 days in early 2005–the idea's beta version never really took off with the American people, and no legislation was ever submitted. So, what are the chances of reform happening in a Congress that will almost certainly be less hospitable to Bush than the current one?...

Striking a deal isn't an absolute impossibility. To prove that a bipartisan agreement is possible if the will is there, Maya MacGuineas, president of the Committee for a Responsible Federal Budget at the New American Foundation think tank, decided to run a little experiment last winter. MacGuineas, a former Social Security adviser to Sen. John McCain's 2000 presidential campaign, brought together Jeffrey Liebman, a former aide to President Clinton, and Andrew Samwick, a former aide to President Bush, to see if they could hash out a reform plan. Some 50 hours later, spread over several months, they had one. The proposal includes beginning to raise the retirement age to 68 starting in 2011, raising the maximum taxable earnings limit to $172,000 by 2017 vs. $94,000 currently, diverting 3 percent of payroll taxes into personal retirement accounts, and reducing spousal benefits for those married to high earners. The plan, already vetted by the Social Security Administration, would return the program to long-term fiscal solvency and create a personal account sweetener to boot. "It's doable," MacGuineas says. "We know what tough choices have to be made. And I think the country is more aware now that something has to happen..."

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