Economist Paul Moreno, author of the excellent Black Americans and Organized Labor, has a very good post at Liberty & Power explaining what's wrong with the idea of a "Second Bill of Rights," first proposed by Franklin Delano Roosevelt and recently championed by star law professor (and Barack Obama adviser) Cass Sunstein:
The second bill of rights idea derived from two famous speeches that Franklin Delano Roosevelt gave—one at the San Francisco Commonwealth Club during the 1932 campaign and his 1944 annual message to Congress. In the Commonwealth Club address, he spoke of the advent of "enlightened administration," which would redistribute resources in accordance with an "economic declaration of rights." In his 1944 message to Congress, Roosevelt said that "our rights to life and liberty"—the negative liberty to which Obama referred, had "proved inadequate to assure us equality in the pursuit of happiness." He claimed that "In our day these economic truths have become accepted as self-evident. We have accepted, so to speak, a second Bill of Rights." This bill of rights included the right to a job, the right to food and recreation, the right to adequate farm prices, the right to a decent home, the right to medical care, and the right to a good education.
Of course, these are not "rights" at all—not in the sense that the framers and ratifiers of the Declaration of Independence and Constitution used the term—but entitlements. From the founding until the twentieth century, the American regime assumed that government's purpose was to secure pre-existing natural rights—such as life, liberty, property, or association. Everyone can exercise such rights simultaneously; nobody's exercise of his own rights limits anyone else's similar exercise. Your right to life or to work or to vote does not take anything away from anyone else. We can all pursue happiness at once. Entitlements, on the other hand, require someone else to provide me with the substantive good that the exercise of rights pursues. The right to work, for example, is fundamentally different from the right (entitlement) to a job; the right to marry does not entitle me to a spouse; the right to free speech does not entitle me to an audience.
The New Deal is often described as a "constitutional revolution." In fact, it was much more than that. It involved a rejection not just of the structure and principles of the Constitution, but those of the theory of natural rights in the Declaration of Independence—that, as Jefferson put it, governments are instituted in order to secure our rights.
Whole thing here. For more on the problems with the New Deal, don't miss reason.tv's Obama's New New Deal: As bad as the old New Deal?