If the Bush Social Security plan had passed and then we had this economic crisis what would have happened?

[smsmith500]

The social security plan was completely voluntary. What it would have done is give wage earners the Choice of getting a percentage of the money back so they could add it to their 401K or an IRA account. And this would still be preferable to giving the Money to the government so they could spend it. The Bush plan would have given direct control back to the people who will need the money in retirement, not to the Congress who use it as yet another source of income for the treasury.
Ward311 states the fact of the matter. The Democrats could have done something to solve the problem, but for purely political reasons, didn't. A very familar scenario for them.