The White House has made a correction (by same unnamed senior official? I wonder) regarding the second part of my post below. The government will not seize a substantial portion of your personal account upon retirement, rather they will reduce the guaranteed portion of your Social Security payment by the amount of your contribution to your private account, plus 3%. Six of one, half dozen of the other? But at least they aren't mucking with the retiree's personal account.
Clear as mud? That's what I was thinking too. Wake me when someone actually proposes some real legislation.
Here's the article
in the Washington Post correcting their earlier article