The social security argument, introduced as a red flag (red herring) by the Administration, is an example of an appeal to current beliefs that somehow privatization is always better. Soon I will have some posts dealing with our underlying assumptions about economic well-being. Right now, here is a link to Paul Krugman's column on the British experience with privatization. He includes a link to an article by Norma Cohen in The American Prospect, which link I also provide.
http://www.nytimes.com/2005/01/14/opinion/14krugman.html?oref=login