Ronald Reagan and The Great Social Security Heist : FedSmith.com
The accounts need to be continuously updated. Things change over time like demographics, the economy, etc....nothing is static. The only way we will screw our children is by abandoning a system set up to migrate some of the risk away from individuals, and giving them one that gives them all the risks. It's a horrible thing to do. So many risk have been migrated away from institutions already and placed on individuals. People have got to be crazy to think they can handle all things the market brings on their own. It's a line perpetuated by the very institutions that realized instead of adding an extra layer of protection, they could simply migrate the risks on to us and some can even make money off us instead.