Both flirtations bear on how to assure retirees that they will collect full benefits beginning in 33 years, when Social Security solvency becomes touchy. On one side of this dispute are those who would like to channel lots of Social Security money into personal stock market accounts. On the other side are those who believe that Social Security has been successful and should be fixed, not destroyed. Growing the economy a tiny bit more than current conservative predictions would do the job, they declare, and one way to do that is to concentrate investments in education instead of the stock market. Judging by those doing the lobbying or paying for it, the most fervent advocates of personal accounts have incomes many times higher than the poverty level and are securely padded with health insurance, pensions and investment portfolios.
Large numbers eat their savings during periodic layoffs.
Many leave companies before gaining pension rights in order to care for families or to follow spouses to new jobs. The first group evaluates Social Security as an investment. The second measures its value as insurance. Like passengers on a boat, those topside in first class have little idea of what scares passengers down in steerage. Until those on the lower decks get convincing relief for their concerns, it will be tough to move on Social Security.