I'm not entirely in favor of Social Security, but privatizing it is a silly argument. The real issue is whether we're for people getting to do what they want with their money (invest it here or there, spend it on gumballs, whatever) or if we want a safety-net fund for retired people. Which means if we want to be honest, the real question is "Should we have social security or dismantle it?". Asking "Should we privatize social security?" is like asking whether or not we should privatize public libraries - there's no point in doing it that way. Either have public libraries, or get rid of them.

The fact of the matter is that by privatizing Social Security one would lose the "security" of that said government program, one that has been in place since President Roosevelt's New Deal of the 1930's.