during his 2nd term, which problem did Bush address by calling for the privatization of Social Security?

[kpk02]

None of the above. What it solves is the fact that the government destroyed the Social Security system and stole everyone's money out of it but never paid any of it back.

Privatizing it would at least assure you that you would likely at least retain the full amount you invested into it because it could be stored in a safe investment option if desired (though low interest). Currently each of us is losing 100% of our Social Security investment and just have to hope that there will be enough money coming in to pay our withdrawals at retirement.

The system was never supposed to use current incoming payments to cover currently outgoing payments. The money to cover the outgoing payments should already be stored and ready from those people paying in throughout their working years.