Bush has an "us versus them" philosophy, which makes him think that all he needs to do to win on Social Security privatization is to better sell the program. He's been doing it through big "town hall" meetings to which people who agree with him are invited. Even though, according to polls, the more people hear about his plan the less they like it, he is so stubborn, he intends to continue this way. Scott McClelland, his spokesman, says:
"The administration is just now really stepping up our efforts to educate the American people about the problems facing Social Security and the need for a solution. He is just now really stepping up the efforts to reassure seniors that nothing changes when it comes to those who are retired or near retirement."
"Us versus them." Bush thinks he can make seniors think this way too. But he is wrong. Seniors, more than any other group, are against privatization, though they are sure that Social Security changes would not affect them personally. But they know that it will affect their children and grandchildren. The more Bush tries to divide seniors from their families, the more the younger members of the families begin to realize the true value of Social Security as a safety net.
Only about 36% of the population now think Bush is doing a good job with reference to Social Security. Whatever support he had before is collapsing, even among financial companies who supposedly would be the prime beneficiaries of a privatization program.
Listen to this. The Financial Services Forum, which consists of 20 large financial firms, such as American Express, Citigroup and Goldman Sachs, has withdrawn from the business coalition that was collecting money to work for Bush's privatization scheme.
You wonder why? The lack of public support may be a factor. But a more important factor is the pressure brought to bear against these companies by shareholders and customers and employees of labor unions. You see, labor unions have pension plans, which invest in the market. The AFL-CIO took advantage of this situation to apply pressure on these financial firms. And it worked.
A lot is said about the rich being powerful and the poor being powerless. The main reason this is often the case is that the rich exercise their political rights and the poor do not. In this Social Security battle, because the stakes are so high, the little guys have flexed their political muscle. And they may yet win.
The little guy has political power. He has demonstrated it in this Social Security privatization battle with the president.
