Decision Points, by Pres. George W. Bush: on Social Security

George W. Bush: Spent political capital addressing "third rail"

The day after Kerry conceded, a reporter asked if I felt "more free." I thought about the ambitious agenda I had outlines over the past year. "Let me out it to you this way," I said. "I earned capital in the campaign, political capital, and now I intend to spend it."

For as long as I can remember, Social Security has been the third rail of American politics. Grab ahold of it, and you're toast. In 2005, I did more than touch the third rail. I hugged it. I did so for one reason: It is unfair to make a generation of young people pay into a system that is going broke.

For someone looking to take on big issues, it didn't get much bigger than reforming Social Security. I decided there was no better time to launch the effort than when I was fresh off reelection.

Source: Decision Points, by Pres. George W. Bush, p.296-297 Nov 9, 2010

George W. Bush: Personal accounts reduce racial disparity of retirement

[During my 2005 trip] to a Nissan auto plant in Mississippi, many in the audience were African American workers. I asked how many had money invested in a 401(k). Almost every hand in the room shot up. I loved the idea of people who had not traditionally owned assets having a nest egg they could call their own. I also thought about how much more was possible. Social Security was especially unfair to African Americans. Because their life expectancy was shorter, black workers received an average of $21,000 less in benefits than whites of comparable income levels. Personal accounts, which could be passed along to the next generation, would go a long way toward reducing that disparity.

Democratic leaders alleged I wanted to "privatize" Social Security. That was obviously poll-tested language designed to scare people. It wasn't true. My plan saved Social Security, modernized Social Security, and gave Americans the opportunity to own a piece of their Social Security. It did not privatize Social Security.

Source: Decision Points, by Pres. George W. Bush, p.298-299 Nov 9, 2010

Paul Ryan: Only younger members in Congress support reform

On Social Security, I may have misread the electoral mandate by pushing for an issue on which there had been little bipartisan agreement in the first place. With no Democrats on board, I needed strong Republican backing to get a Social Security bill through Congress. I didn't have it. Many younger Republicans, such as Rep. Paul Ryan (R-WI), supported reform. But few in Congress were willing to address such a contentious issue.

The collapse of Social Security reform is one of the greatest disappointments of my presidency. Despite our efforts, the government ended up doing exactly what I had warned against: We kicked the problem down the road to the next generation. In retrospect, I'm not sure what I could have done differently.

I made the case for reform as widely & persuasively as I could. The failure of Social Security reform shows the limits of the president's power. If Congress is determined not to act, there is only so much a president can do

Source: Decision Points, by Pres. George W. Bush, p.300 Nov 9, 2010

The above quotations are from Decision Points, by George W. Bush . Click here for definitions & background information on Social Security. Click here for other issues (main summary page). Click here for more quotes by George W. Bush on Social Security. Click here for more quotes by George Bush Sr. on Social Security.
*Candidates and political leaders on Social Security:*
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Page last updated: Aug 18, 2011