Anyhoo, a while back David Sucher wrote about Social Security, and he managed to precisely phrase a position that happens to also be my own:
The idea of "privatization" — "it's YOUR money" —seems to misunderstand the very purpose of Social Security i.e. it is NOT a private investment account and never was. But no matter, from what I understand, we should be saving more in the USA and perhaps Soc Sec private accounts will be part of a solution. But I can't see how we will escape (or want to escape) a system which takes care of old people who made bad investment decisions. Call that the Nanny State if you like. I just call it having beggar-free streets.
That's my position, and I'm sticking with it.