Social Security is not in crisis and there is no need for privatization. Social Security is completely solvent today, and will be into the future because it has a dedicated income stream that covers its costs and consistently generates a surplus, which today is $2.5 trillion.  Proposition’s dire prediction of the collapse of social security’s financial situation is misleading. The Social Security surplus will grow to approximately $4.3 trillion in 2023, and that reserves will be sufficient to pay full benefits through to 2037. Even after this it would still be able to pay 78%. Moreover, there are plenty of ways to reform Social Security to make it more fiscally sound without privatizing it, including simply raising taxes to fund it better. [1]  Furthermore the problem that affects social security of falling numbers of contributors to each retiree will also affect private pensions, at least in the short to medium term, just in a different way. If all younger pensioners went over to just paying for their own future retirement who is to pay for current retirees or those who are shortly to retire. These people will still need to have their pensions paid for. They will not have time to save up a personal pension and so will be relying on current workers – but such workers will not want to pay more when they are explicitly just paying for someone else as they are already paying for themselves separately.  [1] Roosevelt, James."Social Security at 75: Crisis Is More Myth Than Fact." Huffington Post. 11 August 11 2010.