Bush wanted to reform social security.
All the democrats practically swore on a bible that social security was sound and it was having no financial problems.
Any moron should have known they were lying.
Now these same people are now saying that social security is insolvent, what happened in just five or six short years to change things? Nothing happened, except business as usual in Washington.
Social Security was in trouble then as much as it is now, it's just the democrats don't understand economics and they didn't want to give G.
Bush credit for anything.
They have been stealing money from us, the taxpayers for years, money that was supposed to be rat holed for our retirement was placed in the general fund and spent, thus making the deficit seem less than it actually was.
It was bad enough before the sixties when money was actually kept in reserve for future retirees, Lyndon Johnson and his merry band of socialists passed laws whereby the money didn't have to be saved, it could go into the general fund and thus finance his "Great Society".
Bush wanted to privatize the system by putting a small portion of the payroll taxes deducted from an employee's check into an investment fund where it would collect interest and grow, regardless of what social security did.
The democrats would have no part of it.
They don't want to lose the Golden Goose and the ability to spend money that isn't theirs.
The only way to save the social security system is to raise the retirement age,exempt current retirees from any changes, and give anyone under 50 the ability to invest their money into a secure conservative retirement fund where it can earn compound interest and grow over the years.
For anyone over 50, the government will just have to take their losses, and plan for the future when the people who have invested in private fund's and the losses from social security begin to diminish, as the older citizens pass away.
We can't cut them off with nothing, their money was invested in good faith and that should be honored.