I just heard a guy on C-Span say that. He is a financial writer for USA Today named John Waggoner.
Jeez- why are we paying 12% of our earnings to something called a "Supplement"? And how is the average American supposed to save much more than 12% for their retirement? This situation is the cause of the economic anxiety felt by many of us.
I bet 99% of financial planners would tell you your retirement will be frigging secure and wonderful if you consistently put away 12% of your earnings each year.
The GOOD NEWS is the average American does that via social security "contributions" in conjunction with their employer. The BAD NEWS is the Congress and our government has been spending that money as fast as they can.