Social Security Reform Would have made Americans rich (and the program solvent)

So many of our efforts at the Rio Grande Foundation are focused on New Mexico and its myriad problems, but Social Security is a major issue for all Americans. Alas, when America had a chance to reform the program back during the George W. Bush Administration the effort failed. American Enterprise Institute did a full report and the following chart was put together by our friends at the Committee to Unleash Prosperity. 

As the chart shows, no matter the plan, if Congress had gone along with Bush’s plans to allow private Social Security accounts (meaning the money was actually invested, not spent) the rate of return would have been significantly better for recipients. Alas, the plan was killed and Americans are now facing a $28 trillion unfunded obligation for the program. Worse, no one in either political party is willing to take on the politically-difficult task of reforming the program.