Social Security has decreased poverty for the elderly and continues to protect the middle class from fluctuation in the economy. Medicare helps the disabled and saves many people over sixty-five from ungodly prices. Medicare and Social Security touch the lives of most Americans throughout their lifetimes. Keeping many out of poverty and make a significantly impact these people’s lives. Some people feel that the government should not be responsible for providing these services, that these services should be privatized. Social Security and Medicare are entitled to American citizens, therefore, the government should be responsible for providing them, and should not privatize. The main problem with privatizing social security is the possibility …show more content…
Privatizing leaves the neediest without coverage or in dept. The average retiree cannot afford private coverage. Not only does privatization cost more, but the price of Medicare would continue to rise. Without government funds, medical care becomes unstable, less effective, and more expensive and would leave many Americans uncovered, and damaged. Privatizing Medicare and Social Security means taking funds from the social security trust fund and placing those funds into private accounts ran by private companies; causing the problem that “privatization would transfer huge administrative fees to Wall Street. Managing large numbers of small accounts is inherently inefficient.”(2010) another problem is that administrative cost are lower with social security then privately ran. Diverting the funds would cause the surplus to run out much sooner, leading to reductions and less security. Noel Merino says “Social Security guaranteed economic security to more than 49 million grandparents, parents and children worldwide. Individuals are free, of course, to invest their personal savings in the stock market—but Social Security guarantees a floor beneath which their fortunes will not fall; therefore, privation is throwing away a financial guarantee.