What do you guys think should be done?

Dr.

Definitely partial privatization. The pathetic 1% rate of return that the current system generates is an insult to anyone with any concept of compounded interest. Galveston County Texas has allowed people to opt out for a long time, and the average retiree who invested just 6% of their taxes into that system is recieving $4000.00 a month, as opposed to 1500.00 a month for those who were too afraid to give the system a try.

Chile did the same thing decades ago, and have averaged a 10% rate of return, without losing a single penny. If it's good enough for South America, I say it's good enough for North America as well.

I want my kids to be able to put money aside at a decent compounded rate of return, and have the right to bequeathe that money to their own children, or anyone else they choose when they die. It's our money, not the governments', and we should own it. The current plan is now down to 3 workers recipient, and the boomers haven't even started collecting yet. When they do, it will drop to 2 workers per recipient or less. The analysts are already saying that the benefits will have to be cut to 70 cents on a dollar in the future, and that affects todays younger workers as we speak. That's robbery in my book. I feel that no one should have to give away their money, and get 70% back. That's a average rate of return of negative 30%, and that's criminal.

I work hard for my money, and I've been dumping lots of it in that pathetic system for way too long. I'll sign up for privatization from day one. In fact, I would gladly get out of the system altogether if they would return my money and let me invest it myself.

It's an unsustainable Ponzi scheme, and it's doomed to failure, benefit cuts, and outrageous payroll tax increases. The only real questiuon is, when?

I can't fathom why anyone wouldn't want to invest their own money, other than being afraid or uninformed. Federal employees already have the option to do it (and have for years), so why shouldn't we? Anyone who has a 401K is doing it too. Why not give EVERYONE the same oppurtunity, especially those who don't have retirement through their employers?

The Dems are against it, because they know it will work, and take away one of their favorite scare tactics to use against old people in election years.

Try Bonds and T-Bills.

The stock market idea already was seen in action and the great depression in the 1920's is what happened.