WIMPS: The Gop is backing away from Social Security privatization. The notion that a market slump means that social security privatization is a bad idea is indescribably stupid. Markets go up and down. Big deal. Congress has already cut my social security benefits, by raising my retirement age, and it’ll do it again. Somehow that political risk is discounted in all the discussions of privatization, but it shouldn’t be — markets always go up again, but Congress seldom un-screws people once it’s screwed them.