The term Ownership Society appears to have been used originally by President Bush in a speech February 20, 2003 in Kennesaw, Georgia as a phrase to rally support for his tax-cut proposals (Pittsburgh Post - Gazette, Bush OKs Funding Bill for Fiscal '03, Feb 21, 2003 Scott Lindlaw).
From 2004 Bush supporters described the ownership society in much broader and more ambitious terms, including specific policy proposals concerning medicine, education and savings.
The idea that the welfare of individuals is directly related to their ability to control their own lives and wealth, rather than relying on government transfer payments, is a long standing one, particularly in British conservatism.
In a modern form its implementation was developed as a main plank of Thatcherism, and is traced back to David Howell, before 1970, with help from the phrase-maker Peter Drucker.
We're creating... an ownership society in this country, where more Americans than ever will be able to open up their door where they live and say, welcome to my house, welcome to my piece of property. - President George W. Bush, October 2004.
The percentage of American home owners fell to 67.3 percent at the end of the fourth quarter of 2009, the lowest percentage since the second quarter of 2000, according to the U.S. Census Bureau.
The homeownership rate reached a high of 69 percent in 2004, fueled by low interest rates and easy credit, but began to fall in 2006 as some owners failed to make their payments and faced foreclosure. In Florida, more than 800,000 homes have been or are in foreclosure court.
During the past few years, nearly 4 million homes have been lost to foreclosure.
How is that Bush Ownership society working for you?
source: http://blog.al.com/breaking/2010/02/us_homeownership_declines.html
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