If Bush had been successful privatizing Social Security would we be bailing it out right now?

[G-Man]

Many of the responses to this question just demonstrate the ignorance of the masses. Social security is completely bankrupt and the same people that rant and rave about the injustice of bailing out the banks and wall street (which I too think was asinine) are the SAME people that think it's great to throw trillions of dollars into a dying and bankrupt social security system rather than take a little personal responsibility for themselves and their own lives.

OK ... I've blown off a little steam ... so now ... the basic answer is that Bush only wanted to privatize 2% of social security funds ... Not NEARLY enough ... it should be 75 - 80- 90 or 100%. 401Ks and 403Bs and private retirement accounts may be down right now ... but they will come back as long as you keep on investing and dollar cost averaging. The government has COMPLETELY bankrupted social security and you want to put them in charge of ALL your retirement funds ... Social security is a Ponzi scheme ... it only stays aghmm "viable" by taking new money from people to pay out to earlier investors ... it is NOT sustainable and is heading for disaster.

Do some research on Galveston, Texas, where they opted out of social security in 1981 before the Feds closed the loophole. The people in that system are getting payments 2 - 3 times what social security offers AND they can retire early. Privatizing the system is the only way to save it. Heck ... I'd even go so far as to say they could keep 100% of the money they've already stolen from me .... if I could just check out of the system I'm REQUIRED to be in starting tomorrow. So much for Freedom.