On this day. 2001: Warning that benefits might have to be cut and taxes raised to shore up Social Security, President Bush formed a commission to study the entitlement program. Among the ideas discussed by his panel: Partially privatizing Social Security by giving younger workers the option of investing a portion of their funds in the stock market, which, it was believed, would generate higher returns. The partial privatization idea was a big part of his 2005 State of the Union address; and although Bush spent considerable time and effort pushing for his idea, it didn't go anywhere. Bush later said that encouraging debate on Social Security was one of the biggest achievements of his presidency.
Quote of the day
"If a free society cannot help the many who are poor, it cannot save the few who are rich." -John F. Kennedy
More from West Wing Reports...
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why ABC threw its Bachelor under the bus
- Time Warner Cable is raising your monthly rate again
- Why I'm sick and tired of seeing naked women on HBO
- True Detective's dangerous lies about satanic ritual abuse
- Why Ted Cruz is the real-life Frank Underwood
- Why is the 'mor' in 'Voldemort' so evil-sounding?
- America's love-hate relationship with porn
- Here's how Iran is covering Russia's invasion of Crimea
- The wrongheaded law that's making your food less safe
- Here's proof that Justin Bieber is just as spoiled as you always thought
Subscribe to the Week