In response to the flap over social security and privatization, I am inclined to ask if a retirement is something we should take for granted, or if it is something that belongs only to those who scrimp and save to provide their own retirement.

In answering this question, I think we first need to consider the Social Security system's setup. Begun under FDR, the system works in such a way that those who are recipients of the system receive their benefits based on the earnings of the current working generation. While this worked when the program was begun, at this point in time, many American workers have worked and paid into the system for many years, and social security benefits would simply be a payout of what they've already contributed. In short, they have worked for a promise that some politicians seem bent to remove from them.

The privatization argument has met with a good deal of criticism from the liberal camp, and with seemingly just cause. If the system is privatized, the argument goes, then the solvency of the program will be dependent upon the performance of private investment funds and not of the solvency of the US Government. But such a program makes sense to others on many levels. But to most conservatives, the idea has merits in that individuals could potentially have greater control over their retirement funds.

As the member of a generation that will most likely need to be older than 70 IF social security is still around, I'm inclined to dismiss the federal program altogether and work to provide for my own retirement. And I know many who feel as I do (mathematically speaking, I don't stand a very good chance of living far past 70, and would like to enjoy SOME retirement years). And so, to me, all I see is 20 years and counting of wasted contributions to a failed retirement system that have only served to decrease my earnings potential. For this reason among others I'm inclined to advocate for privatization, to have control over even a portion of my contributions to the pool.

Whatever the proposed solution, the other side is likely to debate it till the cows come home. And neither is likely to win. But, to answer the title question as to whether we are OWED a retirement, I would say, the answer is a resounding YES!, assuming we have paid into it as we should over the years. It is a fund into which we invested in trust and from which we should receive; otherwise, the social security withholdings should be nullified entirely and the system shut down altogether.

Respectfully submitted,

Gideon MacLeish