From Holden:

Somehow I get the feeling that the President’s new strategy for Social Security is destined for failure.

President George W. Bush is trying to salvage his faltering campaign for private Social Security accounts by accusing Democrats of obstructionism while searching for a compromise that can win approval in Congress.

And in other failed presidency news:

The timetable for President Bush’s effort to overhaul the U.S. code was pushed back by two months on Thursday, as the White House grappled with a crammed legislative agenda.

An advisory panel named by Bush in January to study ways of revamping the tax system was given an extension of its deadline until Sept. 30. Originally, the panel had been instructed to report back by July 31.

In a statement, the tax panel said, “We were on track to issue our report by July 31. Nevertheless, we are comfortable taking additional time to complete our work.”

Although the panel could have wrapped up its work on time, the administration felt that with a series of other initiatives under debate in Congress and the August recess approaching, “there is little capacity for public focus” on the tax issue right now, Treasury spokesman Taylor Griffin said.