Hopefully, other modifications to social security, such as improved cost of living indexing, will be instituted. There are a number of thoughtful reform initiatives that, through the process of privatization, could increase domestic saving rates. These are clearly worthy of intensive evaluation.
Perhaps the strongest argument for privatization is that replacing the current underfunded system with BIS Review 93/1997  a fully funded one could boost domestic saving. But, we must remember it is because privatization plans might increase savings that makes them potentially valuable, not their particular form of financing.