Cornyn and Cruz Explore Private Accounts as Social Security Alternative
Texas Sens. John Cornyn and Ted Cruz are spending this afternoon learning about alternatives to Social Security – a likely prelude to a push to create investment accounts for younger workers.
Critics of such plans, including most Democratic officials, warn that “privatization” of the retirement safety net would push down benefits for future retirees. And they view it as too risky, because stock market volatility could leave older Americans with nest eggs too small to rely on when the time comes.