If contributions from younger workers go into personal accounts instead, the problem should be obvious: who will pay benefits to today's retirees and older workers? It's just arithmetic: 2-1=1. So privatization creates a financial hole that must be filled by slashing benefits, providing large financial transfers from the rest of the government or both. ....
Why is that a Lie? you ask... well, the 2 is SUPPOSED to represent capital outlays by the SS system, except two isn't 2 in that case, it is less (that is where the SS Surplus comes from) so by leaving out that fact, the whole article becomes on huge lie.