White House officials say they are watching six separate proposals pending in Congress, all of which they say meet Bush's standards for changing the Social Security system.
Still, that offers little clue to what his position in a second term might be, since the bills vary widely -- ranging from so-called "free lunch" plans that envision large personal accounts and no benefit cuts or tax increases, to what experts say are more realistic proposals that would create smaller accounts accompanied by benefit cuts and tax hikes.
White House aides will not discuss the bills in detail.
Many think Social Security is facing a crisis as the first wave of baby boomers are nearing retirement. Historically a pay-as-you-go system, with workers' payroll taxes being used to fund retirement benefits for current seniors, the program is projected to begin paying out more than it takes in as early as 2018.
Charles Blahous, who heads the White House's review of Social Security, said Bush would strive to build public support by making a case for change that outlined the challenges facing the system and how "ownership" could foster a permanent fix.
Graham said he had urged Bush and chief White House political strategist Karl Rove to be bolder during the campaign, arguing that Social Security was not the politically dangerous issue it once was. He noted that Bush won in 2000 while talking openly about a shift to private accounts.
"The more specific, the better politically," said Graham. Such an effort "is an opportunity to tell the nation that we're interested in solving real problems, that we're going to level with the public on how to get there, and that we're going to lead."
Critics and supporters alike say any serious move toward privatization would require strong bipartisan support because it would transform Social Security's guiding principle. The program has been a social compact in which each generation of workers paid for the benefits of retirees. Under privatization, workers would have more responsibility for what their own retirement income might be.
Many Democrats and liberal economists do not agree that a Social Security crisis exists or that such a big change is needed to save the system.
Bush's Democratic challenger, Sen. John F. Kerry, said last week that revamping the program required only a "tweak here, tweak there." In campaign appearances, Kerry tries to put Bush's ideas in stark terms, telling crowds, "I will not privatize Social Security."
