The commission's challenges are huge. They have to face the Old Age Survivors and Disability Insurance program's long term problem - an unfunded liability of $20 trillion, which represents the amount by which promised benefits over the next 75 years exceed payroll taxes. They say the only way to address this problem is to increase the abysmal rate of return of today's pay-as-you-go system offers. People like Parsons say the best way to do this is to introduce voluntary personal investment accounts as apart of a workers Social Security retirement package. This comes as polls show that a broad majority of Americans - 100 million of whom invest in the stock market - like the idea of reaping a much richer return on their investments in the financial markets than the 1 or 2 percent return that most workers can expect from Social Security.

Although, African-American Democrats in Congress are critical of the plan, something has to be done because the Black community is especially reliant on Social Security programs. For 40 percent of African Americans age 65 percent or older, it's the only source of retirement income. In 1999, African Americans were 12 percent of the U.S. population, but made up 18 percent of those receiving disability benefits and 23 percent of all children who receive survivor benefits. African-American children are almost four times more likely to be lifted out of poverty by Social Security than are White children.

Blacks may not have a history of investing in the market, but maintaining the solvency of Social Security is an issue whose time is now. Bush has to figure out how to guarantee income security for retired and disabled workers when there is more money going out of the U.S. Treasury than there will be coming in. Historically, Social Security worked because of the high ratio of workers to beneficiaries. However, as the population has aged - 35 million Americans are at least 65 and another 24 million are 55 to 64 - the ratio of workers to beneficiaries has fallen. Fifty years ago, there were 16 workers for every one retiree. Today, there are only three workers per retiree, and in 30 years there will only be two for each retiree.

Social Security will start running short of money in the next few decades. By 2016, payroll taxes will no longer cover benefits, forcing Social Security to begin redeeming government bonds it holds. By 2038, the bonds will be gone leaving the system able to pay less than three-quarters of benefits. Parson's plan is for a radical change in the structure of Social Security contributions. His commission will propose allowing taxpayers, particularly young workers, to divert two percentage points of their FICA obligations to personal retirement accounts (PRAs). These contributions would be voluntary, but 71 percent of the nation's young workers say they favor private individual retirement accounts.

Black politicians need to support the commission's search for a solution. And, the Africa-American community should prepare to become more involved with the investment processes that fund and run our nation's capitalistic economy.

William Reed is the author of "Who's Who in Black Corporate America." For questions or comments email him at businessexchange@metroconnection.info or call him at 202-547-4125.