Bush moving your way on the solvency problem but is rock solid on private accounts and ownership. He actually made a very good case if anybody cared to listen.
I am just wrapping up work, and did not listen to Bush, but Bush could not have made a persuasive case for private accounts because it is impossible to make a persuasive case for private accounts. The moral hazard problem is simply a killer, even if all the other issues are ironed out.