from A Tiny Revolution
Conservative Republicans have hated Social Security since before it began. In 1935, Republican Senator Daniel Hastings said Social Security would "end the progress" of America. Ever since, conservatives have been claiming Social Security is about to collapse. When people who are now receiving Social Security checks were starting to work in the 1960s, conservative Republicans were telling them they'd never see a dime. Bush himself, when he was running for Congress in 1978, said Social Security would "go broke" within ten years.
However, until now conservative politicians have never made any serious attempt to kill Social Security. That's because Social Security is extremely popular. And as much as conservatives dislike Social Security, they dislike losing elections even more. Social Security has often been called the "third rail" of American politics—touch it and you die.
But things have changed. Not Social Security itself; it's fine. But conservatives think that—after saying since 1935 that Social Security is about to collapse—they've finally gotten Americans to believe it. As a recent internal White House memo put it, "For the first time in six decades, the Social Security battle is one we can win."
The person who wrote this was being honest: conservatives have been fighting against Social Security for 60 years. It didn't have anything to do with a "crisis" in 1945, 1965, or 1985. And it doesn't now.
Now, you may be wondering: why exactly do conservatives hate Social Security? Why do they think something so many Americans like is so terrible?
Here's one answer: $$$$$$$$$$$$$$$$$$$$$$$$
President Bush's plans for Social Security would mean Americans would be required to hand billions and billions of dollars over to Wall Street. As Fortune magazine recently put it, Wall Street is "salivating" over this. Even the Cato Institute, a Washington think tank that has pushed for privatization for decades, says that "financial institutions in particular" would benefit.