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Social Security is the very foundation of retirement security for millions of Americans.
President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.
Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.
The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.
I support voluntary personal retirement accounts for Social Security. It should be people's free choice.
It's time to stop the raid on the Social Security trust fund and start allowing Americans to invest their Social Security taxes in personal savings accounts.
For these reasons, women tend to rely more heavily on Social Security in their retirement than do men.
I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.
The money that goes into Social Security is not the government's money. it's your money. You paid for it.
