It these people were told to go out and find their own investments, most of them would lose their money and have nothing to retire on. Just as in the past Congress would create a new welfare program.There are 20 million adults in this country that are functionally illiterate which means they can not read well enough to follow simple instructions, can not write a letter, and can not add and subtract. You think these people are going to learn about asset allocation and going to do a comparative analysis between various investment? You're dreaming.
Perhaps it's time to stop trying to coddle them. It's not like their lives are any better with all the subsidies. Basic needs for those who need them.