Social Security Questions:
Q: Isn’t this privatization of Social Security just a warmed-over version of what President Bush proposed a few years ago- that failed to get even Republican support?
A: The Roadmap does not privatize Social Security. It keeps the current system in place with no changes for those over 55. For those under 55, the Roadmap provides the option to either stay in the traditional government-run system or to enter a system of personal accounts. The traditional government-run system is not privatized. Moreover, even under the personal accounts system, the accounts and investment options will be managed and overseen by a public Social Security Personal Savings Account Board – not a stock broker or private investment firm. People who choose the enter the reformed system will select from a handful of government regulated options—similar to the retirement plan the Members of Congress and federal employees use.