Social Security almost went bankrupt. In a world where Bush got his bill through, it did.
Future retirees depending on social security for their retirement, could have seen their money go away, their $100,000 saved over a life of work, becoming a mere $50,000. In Bush's plan, it did.
Thankfully, we don't have to worry about this, as Bush's plan got derailed. It's quite amazing if you think about it!
Bush had successfully passed his legislation to that point. His 9-11 and terrorist references were sufficient to scare both sides into submission on any new issue. If there was a way of spinning social security to 9-11, Bush and Co would have found it, I am sure. They were able to spin it as an "emergency"... They were on every news station, on TV, everyone but your Kos' and Stewarts copied what they said. I was amazed when the bill was defeated. All that spin, all that nonsense... it could have worked.
I see the market's collapse, and think to myself, Bush came really close to screwing over even more people. Not that we should have expected any less from Bush. This downturn is his creation and has hurt many people's 401ks.
I can't help remember a story I heard about Bush's father 10 years ago. He went to a baseball game and asked the people sitting in their chairs to leave (so he could take their seats). But rather than show deference, they didn't want to go. The story may be true, it may be an urban myth, but it's a fitting analogy for our saving social security.