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Recommend "Glenn Greenwald"- Barack Obama is Gutting the Core Principles of the Democratic Party (Email)

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In 2005, American liberals achieved one of their most significant political victories of the last decade. It occurred with the resounding rejection of George W Bush's campaign to privatise social security.


Bush's scheme would have gutted the crux of that entitlement programme by converting it from what it has been since the 1940s – a universal guarantor of minimally decent living conditions for America's elderly – into a Wall Street casino and bonanza.

Progressive activists and bloggers relentlessly attacked both the plan and underlying premises (the myth that social security faces a "crisis"), spawning nationwide opposition. Only a few months after he unveiled his scheme to great fanfare, Bush was forced to sheepishly withdraw it, a defeat he described as his biggest failure.


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