Privatize Social Security?

Social Security is running out. This is a fact echoed by the Social Security Administration.  Projections indicate that by 2033, the fund will be empty and workers paying into the system will provide enough to pay for 75% of promised benefits. With such a significant problem on the horizon, it is strange that so few politicians are talking about the issue, and even fewer are offering solutions.

A common suggestion to "fix" the looming problem of Social Security insolvency is to Privatize the entire system.  This proposal would mean significant changes to the "safety net" that millions of Americans rely on to survive.

Discussion Questions:

1. What does "privatizing Social Security" actually mean?
2. Explain the strongest argument for privatizing Social Security.
3. Explain the strongest argument against privatizing Social Security.
4. Where do you stand on the issue?  Explain your perspective.

Use the following links in addition to others that you can find to help build your arguments.

http://socialsecurity.procon.org/

http://www.brookings.edu/research/papers/1997/03/saving-burtless

http://www.cato.org/publications/social-security-choice-paper/privatizing-social-security-big-boost-poor

http://www.cato.org/research/social-security

https://www.stlouisfed.org/publications/cb/articles/?id=1578