Social Security be privatized?

[dimpy.handa]

With developed countries all around the world seeing higher life expectancies and lower numbers of births, social security systems are going bankrupt because there are not enough young people in the system to pay for the rising number of retirees. Privatization prevents this long term shortfall. Instead of working people paying for payments to retirees, each individual would be responsible for his or her own retirement savings. Demographic shocks would no longer risk bankrupting social security.

 

[swatiraohnlu]

Liberals argue that government has the obligation to provide social insurance, through mandatory participation and broad program coverage. During 2004, Social Security constituted more than half of the income of nearly two-thirds of retired Americans. For one in six, it is their only income.[34] Liberals tend to defend the current program, preferring limited tax and payment modifications