Social security is beginning to reach bankruptcy if congress do not act quickly the benefits will receive a payment cut of 20% by the end of next year, but if cuts are made the cuts will affect 10.9 million people receiving benefits in the year 2014. (Marta, Janelle) In the article “A Cut to Social Security Disability May Be around the Corner" it says “Everybody is in agreement that something needs to happen,” Akabas says. “But until the two parties come together on a compromise, that puts people in a high state of uncertainty." what politicians fail to realize is that privatizing the system is a risky situation because privatizing all the beneficiaries accounts the beneficiary can lose all their investments if the stock market goes down many individuals lack the knowledge to make wise investment decision (procon). So what source of income will they use now since those individuals put most of their paychecks only in investments Americans holding private accounts would face incredibly difficult decisions about where to invest (75) So based on what you receive is based on if the stock market rises or not which would probably not be enough based on when the individual …show more content…
Social security has served our nation well for almost 70 years. Without it, half of today's older adults would be living in poverty. It makes no sense to dramatically change what is a basically healthy system. We should reject partial privatization as a risky and unnecessary scheme (Schulz and Gorin