The failure to fund the Social Security system properly has resulted in a situation where the system will go bankrupt in the relatively near future. The privatization is the best way to ensure the future's of Americas senior citizens. After 2013, the Social Security Trust Fund is projected to decline by a greater amount each year until becoming exhausted in 2033. Social Security is a wonderful benefit for those who deserve it like long term workers, the elderly, etc. For as long as the baby boomers do not come back around like it's subjected to, the US is already in debt and Social Secuirty will be next. I agree with social security for the fact that it does help elderly and the workers who have worked their whole life, they deserve to get something back for their troubles and all the years they've put in. Social security does get taken advantage of though which is a downfall because there are workers in households who will only work for a month or two and then expect to be put on a social security check and not deserve it. In general, recipients begin to receive disability benefits after they have been disabled for five full months whether their disability be true or not. Those households are the ones who are putting America more and more in debt because those who are working are paying into their funds. In 2010 roughly 1,500 federal employees may have improperly received benefits based upon their wages exceeding maximum income thresholds. Disability benefits are calculated based upon a formula that takes into account the Social Security taxes paid over the course of workers' lifetimes. Once you get a certain age ev eryone will have social secuirty. Even though workers have to put in for their own social security benefits. Social Security is going down hill on a daily basis especially more in todays economy than for example in the 50's when the baby boomers begun and increased from there on. In 1957 the average birth rate per woman was 3.7. By 1976, the average birth rate had fallen to 1.7. In 2006, it was 2.1. In 2011, the first wave of baby boomers turned 65 years of age. For those born before 1938, the full retirement age to qualify for Social Security benefits is 65 years old. With today's economy and how bad the United States in in debt is only causing social security to become empty that by the time graduates of 2012-2015 will not even have an option to have social security. Between 2011 and 2030, it is projected that the number of people eligible for old-age benefits will increase by 65%, while the number of people paying Social Security taxes will increase by 15%. In 2011, the administrative costs of the Social Security program were $6,405,000,000. This was equal to 0.87% of all Social Security outlays for the year or enough to pay 434,296 retired workers the average annual old-age benefit of $14,748 for 2012. As of December 31, 2011 , the U.S. government owes $2.7 trillion to the Social Security Trust Fund. When the Social Security program collects more in taxes than it spends, it generates surplus money. By law, the only thing that the Social Security program can do with surplus money is loan it to the U.S. government. When the Social Security program loans money to the U.S. government, the government is obligated by law to pay this money back to the Social Security program with interest. This money becomes a part of the national debt. That debt is just added onto whatever else the US has to owe back. In conclusion, some may agree with social security benefits and some may disagree; which it does have its ups and downs. By the time those who really need social security to be able to live or pay bills there won't e any money left. Since now in 2012 they're already having to borrow money from the government that is already in debt. Taxpayers like me and you are just putting money into a empty pit. Social security should be used and not abused for those who need and deserve it. For example all the injured and retiring coal miners who are out of jobs right now because the coal industry is down and they cannot even get social security so they can retire and live on with what they've worked for their whole life.

http://justfacts.com/socialsecurity.basics.asp