There could be some big changes in your July Social Security check. That's because the government is collecting overpayments, meaning the administration paid you more benefits than you were due. Those affected should have received a notice back in April.

Social Security privatization refers to a proposal that shifts the current government-run system to one where a portion of the money you normally pay in Social Security taxes would be diverted to a personal investment account that you would be responsible for managing. The goal is to allow Americans to maximize Social Security dollars.