"A lack of communication between House Speaker Dennis Hastert (R-Ill.) and Ways and Means Committee Chairman Bill Thomas (R-Calif.) over the past several months has clouded the prospects for Social Security reform this year.

Thomas has kept Hastert in the dark on his yet-to-be-introduced broad retirement bill, which would include major changes to the Social Security system. Meanwhile, Hastert has not committed to a floor vote on revamping the entitlement program, leaving Thomas unsure of how to proceed."

But just like the weatherman told us it would rain last night (and it didn’t), we still hold out hope that a reform package of some sort will make it into the hopper this session."

Just like Katrina has moved our pork-loving legislators to take on “Operation Offset,” (check out the press conference this morning on the hill) a quick jolt of reason may do the same on the Social Security reform front.

We think this is one acutely severe reason: If Congress does nothing to reform the system, annual cash flow deficits are predicted to begin in 2017. In inflation-adjusted 2001 dollars, the annual deficits are estimated to reach about $72 billion in 2020, $275 billion in 2030, $429 billion in 2050, and $719 billion in 2070.

Let’s just hope the clouds clear up soon.