Gloria Borger
Feb. 28, 2005

Gloria Borger joined U.S. News & World Report in 1986 as a political reporter, and now as a contributing editor, writes the magazine's On Politics column. (Read Gloria Borger's bio)

Q: Has Social Security ceased to be the "third rail" in American politics? If so, what has driven the change?

If Social Security is no longer the "third rail"--as in "touch it and you die"--it is still clearly a politically sensitive and divisive issue. What has changed is that talking about changing the system no longer means predictable political demise; after all, the president has been talking about it for more than four years now.

What has happened is that there has been a generational shift in attitude towards Social Security. Whereas those over 60 are devoted to keeping the system as it is--because it works for them--younger people are more skeptical about whether it will be there at all when they retire. As a result, polls show that younger people are more willing to "experiment" with the notion of private accounts than is the older population. And it's those younger folks the administration is hoping will help them promote its plan for private accounts. After all, these are people who are familiar with 401 (K) plans and with market fluctuations, etc.. And they may also be more willing to try something that is part of what George Bush calls the "ownership society." It is more philosophical with the younger folks. With the older population, it is more about keeping the system as it is for as long as they need it.

Q: How does the president's vision for Social Security fit within his broader political philosophy? Is it surprising that he decided to make this issue a key ambition for his second term?

As I mentioned above, the president's version of Social Security is very much in keeping with his ideology. He has spoken for years about a so-called "ownership society" in which people have more control over their own lives. He believes that while government should lend a helping hand, it should also empower you to make decisions about your own life.

All of which leads to his notion of investment accounts, which would allow those who are so inclined to have a more active say in what happens to their money--win or lose. This is something the president spoke about when he started running for political office decades ago, and he has not forgotten it. During his first term, post 9-11, his preoccupation was obviously with fighting terror, rather than domestic policy. Now, the president has clearly made a decision--and that is that he wants a major change in Social Security to be part of his legacy. And the folks at the White House believe that so long as they try, they will win because they will be seen as reformers.

Q: Thinking generally, who supports the president's plan to create private accounts for Social Security? From what corners is the opposition coming?

Groups such as the US Chamber of Commerce, which represents business, like the plan because they, too, subscribe to the notion that people ought to "own" their retirement. Wall Street also supports the plan, for obvious reasons--they would be investing the money. The opposition comes from the AARP--a group that is not to be toyed with. And you may recall that the AARP supported the president on his prescription drug benefit in the last Congress.

Q: President Bush has been traveling outside Washington to hold "town meetings" on Social Security. Is there any indication these campaign-style events are cultivating the support Mr. Bush needs in order to enact the kind of change he proposes? What about members of Congress? What are they hearing when they gather with constituents in their home states?

Both sides have been traveling outside of Washington to try and sell their point of view. At this point, it's not clear whether any side is really winning. A new poll shows, for instance, that there is a majority that opposes the president's proposal; other recent polls show that a majority supports it. Members of Congress are generally being greeted with lots of skeptical questions about the plan, and with good reason: While the president says that no one over 55 has to worry, they don't believe him! And younger folks have not really engaged on the issue.