PRIVATIZING SOCIAL SECURITY
“I earned capital in the campaign, political capital, and now I intend to spend it.” November 4, 2004

Two days after defeating John Kerry by less than a 3 percent margin, Bush declared that he had received a mandate for major change.

Bush pushed for an "ownership society" that would reorganize Social Security around new personal-savings accounts funded by payroll taxes. Democrats convinced voters this was too risky and Republicans did not even bring it to a vote.