If the Federal Government undertook a complete accounting of the current social security system, redistributed these funds proportionately to individuals, and closed the social security system, Americans would be able to plan for retirement on their own using just those funds saved from social security taxes. The average person earning $31,000 per year could reasonably expect to have over $1 million in retirement savings if they deposited the same amount into certificates of deposit that they presently pay into the social security system. Personal responsibility is a requirement in a democratic society.  It isn't the job of government to provide for every need for every individual. It is time for Americans to become the free-thinking, responsible people they are. To stand up and take stock of themselves and their lives and plan for themselves. If individuals fail to adequately prepare themselves for periods of unemployment or retirement, it falls then to their families, the community, and charitable organizations to assist with their needs. The government has no money of its own. It has only our money. It cannot be charitable with money that doesn't belong to it.

The Republican Party position regarding social security is to "strengthen" the program. Unfortunately, there are no clear positions presented as to how they hope to accomplish this. There has been talk of investing the funds in the stock market to increase return and boost the Fund, and there has been some talk about privatizing the Agency. To date, we have not found any clear examples or plans presented by the Republicans.

The Democratic Party's position concerning social security is the same as it was when Franklin Roosevelt enacted the founding legislation in 1935. They see the program continuing in perpetuity regardless of the fact that aging Americans make up a greater portion of the country each year. They are in favor of maintaining the "contract" no matter what it costs working Americans. They are against all efforts to raise the retirement age, decrease any benefits, or privatize the Social Security Administration and Trust Funds.

More on the actual costs of Social Security