Outsourced Social Security

There was a proposal by some to hand the management of Social Security over to private investment organizations.

If this proposal had been accepted, imagine where we would be now? Actually, I'm not sure it makes much difference, because the Federal Government is getting stuck with the tab for all the sub-prime mortgages anyway. But, that aside, there is clearly something wrong with the way the banks have managed risks for the last three or so decades. Does it make sense to try to outsource Social Security to a broken financial system?

By the way, if we were to outsource Social Security, we would have to borrow even more money to keep the Federal Government going. Its called cash flow ...