In theory, budgets are simple: money coming in, money going out and the attempt to make it all balance. With current spending priorities on military and a rapidly rising deficit, all eyes are on social security: a foundation of American values intended to support workers and their families on retirement, disability or death. Today, millions of middle class and low-income Americans, half lacking pensions entirely will rely heavily on their Social Security benefits. Experts on both sides agree that the system must be improved. How are we going to pay for this program that affects every American family?

• Social Security is a "pay as you go" system - taxes paid by workers making under $90,000 a year today go toward current retirees and current workers will have their retirement paid by future generations.
  
  
• Social security benefits are progressive - determined by worker wage, low-wage workers receive greater percentage of pre-retirement earnings than high-wage workers.
  
  
• Social Security is the significant source of income for the majority of retirees over 65.

The current plan to privatize Social Security hinges around 4% of existing payroll tax being diverted to private investment, and reducing the government benefit. It may not seem like much, but it creates a shortfall for current retirees that will contribute $2-3 trillion dollars to the national deficit. Some argue that Social Security is an insurance policy, not an investment plan. Yet privatization has dominated the national discussion of social security reform.

What are the risks of investment-based privatization and how will they affect those undereducated in the investment world - often people of color and most working families? Are we willing to risk the security of future generations for a quick fix based on questionable formulas and a declared 'crisis'?

It's not easy to talk about money when it comes to billions and trillions - that many zeroes boggles the mind. Looking at social security and tax reform, is the media abandoning attempts at understanding the complexities of the problem and taken to accepting the administration proclamations or trumpeting partisan divisions and a national program 'crisis' instead? Does media reflect the debate, or play up the divisions? Is the plan to privatize social security and make tax cuts permanent the only 'fix' or just the only plan we know about? Is social security truly in crisis?

• The Washington Post predicts that second to appointments to the Supreme Court, the federal retirement program will "rock the capital."

Is social security broken? What would it take to fix it? Is privatization our only option? What are the advantages and disadvantages of privatization? How will it affect my retirement? Why does the Bush Administration see privatization as the only answer? How do conservative and liberal views and values affect their proposals? Is there any way to save social security without raising personal income taxes or cutting benefits? Will making the tax cuts permanent affect Social Security? What are the risks of putting our future security into the private sector? Who will benefit from a privatized social security fund? Who will be put at risk? How has spending a billion dollars a day on the wars in Iraq and Afghanistan affected our spending priorities and ability to pay for social security and the deficit?

Talking Points