President Bush's plan to privatize Social Security and cut guaranteed benefits is running into trouble. A Washington Post-ABC News poll released in December found that although 53 percent of Americans support a voluntary stock market option for Social Security, support drops by more than half, to 24 percent, if it means $2 trillion in borrowing. Sixty-two percent of Americans say they would not participate in private accounts. Only 25 percent believe the president's claim that Social Security is in crisis. Even Wall Street firms, which stand to realize billions in fees from private accounts, were cool to Treasury Secretary John Snow's pitch earlier this month in New York, fearing that the $2 trillion borrowing needed to pay current beneficiaries would run up the deficit, stall the economy by driving up interest rates and cost the firms real money today. The AFT, AFL-CIO and the Alliance for Retired Americans are all gearing up to fight the Bush administration's privatization initiative, which would cut guaranteed benefits and subject Social Security to stock market risk. Delegates to the AFT's 2002 convention overwhelmingly passed a resolution opposing efforts to replace Social Security's guaranteed benefits with personal retirement accounts.