The good news is that the federal government is looking everywhere, and maybe even seriously, for ways to improve its balance sheet. But the process will bring some bad news, such as Congress’ interest in doing away with 401(k) accounts.

The argument against such tax-deferred savings vehicles is that they reduce the amount of cash flowing to the federal government, which is beyond broke right now. However, supporters of the 401(k) concept point out that the government will get its cut eventually; when savers begin to draw from their accounts, they pay the tax at that point. Chances are, the feds will still be desperate for cash then, too.

Also, several groups contend that the government, in its understandable eagerness, seems to be overstating the value of making such a radical change.

The Joint Committee on Taxation, which includes Sen. Charles Grassley as a member, said 401(k) plans will deprive the Treasury of an estimated $67 billion in 2012.

Not so fast, said The American Society of Pension Professionals and Actuaries. The real figure is 55 to 75 percent lower than that.

The argument in favor of continuing to give American workers the 401(k) option is that ensuring a financially secure populace is one of the most important goals of a stable society.

It would be better if everyone were wise enough to plan and invest for the future without any prodding from government programs, but that seems unlikely at this point. Many Americans have become addicted to the 401(k), not just because of our financial ineptitude, but also because it was a good idea.

We’re already worried about the future of Social Security; let’s not make it harder for people to save for retirement.

If lawmakers decide the government really needs more tax money, they need to state the case forthrightly and accept the consequences.