I don't believe its this horrible plan thats gonna end the world that some of you make it out to be.
Some of you all say that its gonna be extremely unstable and not guaranteed, but I have to say that our current plan isn't guaranteed either. As far as being unstable what if they limited the investing to
index funds which are proven to be very reliable outpreformers over the long run.
For instance this is taken from here
http://www.thereisnocrisis.com/faq"Why Is Privatizing Social Security A Bad Idea?
Privatizing Social Security defeats the purpose of keeping it safe from the ups and downs of the market.
It began almost 80 years ago as a way for Americans to protect themselves from the economic disaster triggered by a stock market crash. Now Wall Street and Conservative Ideologues want to tie it back to the stock market. Does that make any sense?"
Our current plan does not protect us from an "economic disaster triggered by a stock market crash." For example lets say the stock market crashes again.(God forbid) Whats gonna happen? People will get laid off by the masses and low and behold the only funding for Social Security is cut in half if not more. That account will dry out faster than anyone could ever imagine.
The only perfect plan is to not be dependant on Social Security. Take $20 or more out of each check for as long as you work and stash it somewhere and forget it, whether you stash it in a bank or a safe you keep at your house. I think if we modify our current plan we will be better off compared to Bush's plan but if they end up passing it, its not gonna be the end of the world