Right now the focus of the media and blogs seems to be in defining whether the SS system as it stands is in "crisis" or not.
I fall firmly on the side of those that believe that there is no crisis, and some simple changes can be made to secure the system well past everyone's current lifetime and more without gutting the system.
However, I also recognize that the deck is stacked against us right now, as the Republicans have all the power in government, and most major media outlets are accepting their premise of the "crisis" argument on its face.
So I have a few questions:
It seems like all the "plans" that have been tossed around have implied that this will be an OPTIONAL change. Participants would be able to choose to remain in the current system rather than change, or would be able to elect a certain percentage up to 4% of their gross income to place in market accounts, leaving 2.2% in the traditional plan. People could, of course choose a lower percentage as well. So how can you budget or plan for what may be a widely variable amount of funds? Aren't all the numbers being tossed out there completely meaningless without knowing how many people opt for the market and at what rate?
As of Dec 9, according to Seniors Journal,
http://www.seniorjournal.com/NEWS/MedicareDrugCards/4-12-09HelpOtherSeniors.htm
only 5.8 million of 30 million eligible seniors had signed up for the new Medicare drug discount cards.
What if only 20% of the population signs up for the new SS Market option? How does this affect the financial projections?
It seems to me that the success or failure of any such "reform" to the system will be entirely dependent on how many people choose to participate in it, which gives me grave concern that eventually the "opt-out" will "need" to be made mandatory, despite current rhetoric.
If, despite our best efforts, the phase-out of social security gets passed, what you you personally do?