On the recordMarch 8, 2005
I have received in my office alone over 1,000 letters from people concerned about these privatization schemes that have been talked about in Washington. We talked about what it has meant to our country, to their families. We also talked about the success of the program, how it has been studied and mentioned as one of the most efficient programs in our government's history, only having 1.5 percent overhead. So it is a great model to look at in terms of efficiency and delivering vital services to our country. People are very concerned about their Social Security, the real bedrock foundation of their retirement security being subjected to benefit cuts, being subjected to broker fees, being subjected to the risk of the stock market.
Source
govinfo.gov
