George W. Bush Reveals His Biggest Failure Was Not Privatizing Social Security

Former President George W. Bush signaled on Thursday that he sees not reforming Social Security as his greatest failure from the eight years he served in the White House, the Chicago Tribune reports. In 2005, the president unsuccessfully tried to partially privatize Social Security.

The unpopular Republican leader made the suggestion while speaking at a trade conference in the Windy City, where he discussed his legacy and also offered a glimpse into what readers can expect from his forthcoming memoir, Decision Points.

"I would like to be remembered as a guy who had a set of priorities, and was willing to live by those priorities," explained Bush. "In terms of accomplishments, my biggest accomplishment is that I kept the country safe amidst a real danger."

Bush poked fun at himself in addressing how his thoughts will be delivered in his memoir.

"I have written a book," he said. "This will come as quite a shock to some. They didn't think I could read, much less write."

With the 2010 midterm election just weeks away, it's possible that the comments from the former president may leave some members of the GOP community a bit uneasy. Over the summer, it was reported that the release date for Bush's memoir -- November 9 -- had Republicans concerned that the timing could hurt the party's chances at the polls.

Matt Latimer, a former Bush appointee, wrote about the matter at the Daily Beast at the time:

[Some] Republicans, particularly those most closely tied to the Bush regime, actually argue the book could help the party by reminding some voters of what they liked about Bush. Still, that has not stopped some Republicans, traumatized over the last two election cycles, from fearing the worst. "Monumentally bad timing" was the reaction of one former Bush aide who learned of the book release date. Another prominent conservative compared the Bushies' public-relations savvy to LeBron James. "Selfish and stupid" was another noted right-wing columnist's reaction

As the criticism relates to Bush's regret that he couldn't achieve privatizing social security, it seems that his remarks couldn't have come at a worse time.

Time magazine reported earlier this week on Democratic efforts to score points with voters ahead of the midterms on the social security issue. In some cases, Democrats are even tying the matter to the former president.

"Instead of helping seniors," explained House Speaker Pelosi's office to the publication, "Republicans, backed by their allies on Wall Street, are threatening to privatize and cut Social Security, just as they tried to do under President Bush."

It shouldn't come as a surprise that following the former White House leader's remarks on Thursday, Democrats were quick to once again pounce on the issue.

"Republicans' agenda is what it always was -- turn the Social Security seniors worked hard to earn over to Wall Street," said Democratic Congressional Campaign Committee Press Secretary Ryan Rudominer. "If Republicans has their way, seniors could have lost 40 percent of their retirement investments when the market crashed. America's seniors deserve better."

Comments

[Nevervotesrepublican]

11:48 AM on 11/03/2010

The part where Bush mentions keeping the country safe, what was 9/11. Didn't look like a cook out to me.

[Geffel]

11:12 AM on 11/03/2010

if you were kissed goodnight, every night, by Barbara Bush, you'd be a failure at everything too.

[billtmore]

09:10 PM on 10/29/2010

I have this article bookmarked...love going back to peruse the comments!!!! frat boy, loser, born with the silver spoon pretends to be a rancher/cowboy and idiot America gives him two terms so why should we expect any more intelligent voting from sorry Amerikans in 2010? America it was a great idea...liberals stock up on land and guns, anarchy is coming

[Lex10]

08:53 AM on 10/27/2010

Laughing: "We are so sure you are all asleep that we will make statements like the above headline in public."

[jack Winn]

04:36 PM on 10/26/2010

George, how can you compare or even keep track of all your mistakes? Hell, you didn't know where you were for ANG musters - you must have forgotten all the times you were over the hill - and you couldn't find anybody to tell you how to locate your service record book.

Probably easier to remember the things you got right - but is there anything at all on that list?

[Geffel]

11:15 AM on 11/03/2010

If Dubya googles 35 articles of impeachment, he'll find a googly starting list right there.

OK, I meant if someone googles it for him...

http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentID=93581

[MaryKayMan]

04:32 PM on 10/26/2010

We seriously need to stop exploiting retarded people. This poor man says things that should never be reported -Dick Chaney can't strong-arm him anymore and his care provider clearly was out of the room during this interview.

[Jim Gardner]

04:28 PM on 10/26/2010

Next! What a dolt...and a betrayer of the American people. I have paid in for 4 DECADES now, W, please hush and don't bother us again.

[Scott Simik]

04:15 PM on 10/26/2010

All I can think about is how bad Social Security would be today if Bush and the Republican had made it Private. It took them 8 years to destroy the Middle Class and we have had only 2 years to mend the damage they did, But it looks like we did not learn and will put the Republican back in charge to finish us off. I understand there is a New name for the country United States of the China Republic or is it the United States of the China/Wallstreet Republic.
Anyway the Republican will not have Mission Accomplish until Social Security is gone for good!

[SarahhJ]

07:03 PM on 10/28/2010

Bush was an extreme move to the Right, given his policies produced the housing bubble, not to mention chasing his own tail in Iraq, so why are you surprised with all that W did the response would be a hard move to the Left? http://finance.varolmak.com

What amazes me is neither side has fixed anything, because as the two parties trade the Presidency and control in Congress back and forth, all they do is undo each others' policies and start s**t they know will give the other side a fit. http://www.mutfakbanyodolabi.org

[Cwhyel]

04:02 PM on 10/26/2010

That he wants Wall Street to get social security money to play with, especially considering their role in the economic woes of recent years shows how delusional he is. I wonder what will happen when the new dunces carry out his legacy. I'm guessing no taxes for earners of 250k per year and all regulations removed for all corporations doing a billion plus annually in revenues.
They have no shame and they have no standards.

[Vanitas1301]

02:43 PM on 10/26/2010

His biggest mistake was lying to the public... about not finding WMDs in Iraq. According to the newly leaked wikki docs that liberals were hoping would be full of gems (and they are) there was a substantial arsenal of WMDs in Iraq found by US/Coalition soldiers. Oh and by the way, chemical weapons were used against US soldiers during the first gulf war according to soldiers in congressional testimonies. But I find it funny that the liberals I was chatting with in the coffee shop this morning said that chemical weapons are not WMDs... this is the problem in MA... you'd think that in a Tech Economy liberals would be smarter... no such luck unfortunately. So much for Harvard.

[Adam Sandler]

03:25 PM on 10/26/2010

So much for Harvard?

Hmmmm... isn't that where the current prez went?

[frantaylor]

03:57 PM on 10/26/2010

Harvard Business != Harvard Law

[MaryAnn VanLeir]

03:41 PM on 10/26/2010

GET A CLUE

[Adam Sandler]

03:48 PM on 10/26/2010

YOU'RE SO WITTY!

[Duane Hanes]

01:54 PM on 10/26/2010

His biggest mistake is being too knuckleheaded to realize the damage that he and his ignorant cronies did to our economy, our world standing, our business community and our moral compass. Now America will go down ( really far down ) as the first post-industrial nation, claiming to be a democracy that honors freedom and due process of law, that sanctions, instigates and practices torture. And privatizing Social Security sounds just like the kind of Randian nonsense we can expect from privileged, wealthy, conservative corporate criminals.

[Christian Figueroa]

01:51 PM on 10/26/2010

never mind the hundreds of thousands of deaths he's caused with his greed and lies.

[McSee]

01:44 PM on 10/26/2010

Just a reminder: Social Security was not intended to be treated as a retirement fund for all. It was intended to help support specific populations in need. As citizens of a country of intelligent and responsible adults, we are collectively responsible for those of our fellow citizens who CANNOT carry all or part of their own weight. This is why we who can submit a portion of our $$ into a pool of funds for others...or perhaps for ourselves if the day comes when for whatever reason we cannot survive entirely via our own efforts.

One can point to abusers of any program, but you don't throw the baby out with the bathwater; programs evolve and are improved. The fact is that SS does serve a purpose, and a noble one. This consideration and beneficience is what used to distinguish America from less developed and "mature" countries. Mr. Bush's readiness to gamble with what is a significant source of well-being for many, particularly in their later years, is certainly disturbing, but it is hardly unsurprising. The fact that so many people felt and still feel he is/was a fit representative of the goals of America speaks greatly about who we have become. I will not speculate on his level of intelligence or his social skills. As a leader of this once-great country, he failed spectacularly in representing us at our best and appears to still enjoy support in representing us at our worst.

[Adam Sandler]

03:24 PM on 10/26/2010

Check your American history. SS was never meant to benefit the people. When first implemented, the age to earn benefits was GREATER than an American's average lifespan. The gov't was counting on you to pay into it and then die before you received benefits!!!!!

[frantaylor]

03:59 PM on 10/26/2010

What does that have to do with whether or not it is privatized?

A bad investment is a bad investment no matter how you try to confuse the argument.

[McSee]

05:02 PM on 10/26/2010

As I said, SS was not intended to serve all. Its main intent was to limit the destruction that the Depression brought to widows, children, the elderly, the unemployed, etc. It was not meant to operate as a personal pension plan for every worker. As a worker, and as an employer (or both), I pay in to cover those who may require assistance, a responsibility of one citizen to another who may not be similarly situated. So what if I don't eventually draw out what I put in? I pay road taxes for roads I may never drive on...but then again, maybe some day I will. All with income should pay into the program, no matter their income, and the benefits should be restricted to those with the need...for in every world but an idealized one, there will be people who through no fault of their own will need assistance. We need to determine just what sort of people we are and what kind of country we represent and quit using righteous indignation as a cover for our selfishness and fear. If we ARE the home of the brave, we will stand up for those who need our support.

[frybread]

12:37 PM on 10/26/2010

A yes, his biggest failure as president. Never mind he was at the wheel during the largest foreign attack on U.S. soil on Sept. 11, 2001 and set in place much of the economic and spending policies (unpaid for tax cuts for the rich, unpaid for Medicare Part D and two wars) that helped to create the recession.

[Adam Sandler]

03:14 PM on 10/26/2010

No revisionist historian, none of those things "created" the recession.

What created the recession was the collapse of the credit market collapsing. Why did that happen? Banks made loans to people who couldn't repay. Banks were encouraged to do so based upon legislation sponsored by the likes of Barney Frank and Chris Dodd.

Bush was an idiot but he was hardly smart enough to single-handedly cause the recession all by himself.

Tax cuts for the rich? Show me a lib in D.C. that isn't a millionaire. Your talking points are getting worn out!

[frantaylor]

03:53 PM on 10/26/2010

Bull bull bull

Direct quote from George W Bush:

"I think if you were to talk to a lot of families that are desirous to have a home, they would tell you that the down payment is the hurdle that they can't cross. And one way to address that is to have the federal government participate."

[Toonadude]

12:27 PM on 10/26/2010

Still waiting to hear what happenned to the pallets loaded with shrink-wrapped C-notes, Georgie.
In the vault in Paraguay?
Forked over to Karl to buy his silence?
Spent it on coke already?