Recently I heard a Democrat pundit trying to scare old people by complaining about Republican proposals to privatize social security. I’m not exactly sure why the privatization of social security is supposed to be so scary, but I would venture a guess that the argument goes something like this: If the government allows us to have control of a portion of our retirement money, we might squander it away on worthless investments.
In other words, if Congress allows us to control our money, we might end up doing with it what Congress already does with it.
It’s only risky if you have something to lose. I would rather potentially lose my money in the stock market than certainly lose it in Washington.