Final answer:
President George W. Bush attempted to partially privatize Social Security through a proposal after his 2004 reelection, but it was met with opposition and never reached a vote in Congress. The privatization was part of his agenda to reduce government's role and encourage free-market reforms.
Step-by-step explanation:
The government program that President George W. Bush attempted to privatize was Social Security. After his reelection in 2004, President Bush proposed a controversial plan to partially privatize Social Security, which suggested allowing individuals to invest a portion of their Social Security taxes in private accounts. Despite support from various interest groups and potential beneficiaries such as Wall Street firms, which would have managed the personal accounts and received billions, the proposal was met with significant opposition.
Concerns about how privatization would transform the New Deal welfare agency and become a fee generator for stock brokers and financiers were at the forefront of the debate. Eventually, the proposal did not make it to the floor of either the House or the Senate for a vote. This effort was part of President Bush’s broader agenda to reduce the role of government and implement free-market reforms, which also included advocacy for private school vouchers and contracting out government services to the private sector.