And the vast majority of Americans think that the program is in serious trouble, with many believing that their benefits will not be there when they retire. Most of the reform plans that have been proposed contain benefit cuts that would push millions of senior citizens below the poverty line.
Partial privatization is also under serious consideration.
President Clinton's proposed plan in his 1999 State of the Union speech did not call for privatization or benefit cuts, but this is not likely to put an end to the debate. Social Security is financially sound and will pay all promised benefits for the next 35 years, without any adjustments . This is according to the best estimates of the program's actuaries. This is true even if nothing is done to increase the system's revenue. Of course this is a very unlikely scenario, because some time over the next 35 years, the system will undoubtedly be adjusted so that all promised benefits can be paid.