[MNJohnnie]

According to U.S. Social Security Trustees projections, our system is fully funded until 2037. If economic growth continues at the rate it has for the past 50 years, it will be funded indefinitely and with minor changes funded past 2075. So why are conservatives pushing for privatization

When you source lies to you like this, you have to wonder, just what is their source for their claims abut Chile?

If they are willing to lie about our SS security system like this, how much you want to bet all their claims in this article are lies or, at best, half true?

[businessprofessor]

If they are willing to lie about our SS security system like this, how much you want to bet all their claims in this article are lies or, at best, half true?

I agree. Comparisons of our Social Security nightmare to a system of privated funded accounts are ridiculous. Social Security is a legalized Ponzi scheme. Payment of benefits (as well as lots of other government spending) depend on the dollar's status as the reserve currency. Social Security is now in a cash flow deficit (about $60 billion). A day of financial reckoning is coming because of explosive government spending. Social Security unfortunately is only one of many programs that are causing excessive government spending.

Private accounts are the only sustainable pension plan. Governments can have some welfare programs for the elderly poor but these are welfare not retirement programs. Chile may have needless government meddling and corruption causing high fees in its system of private accounts. This corruption meddling is a fault of government, not the system of private accounts. I have 403B retirement plan at a university. I use Vanguard to manage my assets. Vanguard has a large variety of very low cost funds. I deal directly with Vanguard unlike 401K plans that require the employer to be a needless middleman. I can also use ETFs (very low cost) and purchase securities directly.