SSDRC

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Sunday, January 25, 2009

Where is Social Security Headed?

No one really knows the future of Social Security. It appears as though the system is headed for a hard crash of bankruptcy, and while there are many suggestions for slight improvement, there are not many suggestions for significant restructuring and reform. Some are afraid that as time moves on and the system digs a deeper financial crisis, our government will try to nationalize our current private retirement accounts, similarly to Argentina’s attempt.

The following article takes a look at the Wall Street Journal story about Argentinean president Kirchner’s attempt to make it through the financial crisis by privatizing retirement accounts and confiscating money from workers so that the government can keep on its feet for a little while longer.

The article also takes a look at an article from US News & World Reports called “Would Obama, Dems Kill 401(k) Plans?”, an academic proposal that the US privatize 401(k) retirement plans, many are worried that this will end up on the US Congress floor.

The Future of Social Security?





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