Gen X-ers Don't Believe in Social Security

In this episode of In A Nutshell Danna briefly goes over the lack of comfort Generation X-ers feel when it comes to relying on Social Security.

"Baby boomers say they are worried about achieving a comfortable retirement, but a new study suggests Generation X is even more pessimistic...

There is vast disagreement even among economists on just how solvent Social Security will remain, and until when. Those who favor privatization-type reforms argue that an entitlement crisis is imminent. Others champion the system, saying funding troubles will not arise until at least 35 years from now."

Category:

News & Politics

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• US
• news
• World
• News
• Social
• Security
• Generation
• Money
• Nutshell
• Future

[sylicone221]

why not just go out like those druggie idols you grew up with

[JackOffVille]

Saving doesn't work but Investing can yield results. SS wouldn't be there for us so start learning the markets and don't expect anything from the government.

[Funkbone]

As a Gen Xer, I definitely believe in social security. I just wish the Boomers wouldn't have sold out and been so greedy as to keep electing Reagan and Bushes who promised them tax cuts by running up huge deficits while ignoring major problems that we will be stuck with.

One example; all that money we spent invading and occupying Iraq could have been put back into the "lockbox" for social security to provide for the Boomers' retirements. Now we're all kinda screwed, aren't we?

[KOAJaps]

Best way to guarantee that Social Security will remain solvent? Remove the cap so that the middle or upper middle class won't have to worry about not receiving social security. And if the author above did research, for ever dollar spent from your social security check, the government (We the People) make $1.25-$1.50 in profit. Reagan cut taxes fo the wealthy and the middle class had to take the brunt of the tax burden when Reagan increase the FICA taxes. Aren't Republicans great?

[KOAJaps]

I believe in it. I believe that Social Security was originally for: disabled, widowers and children of the deceased parent. This is to make sure that no one is: hungry, homeless or suffers from medical problems. Then the population grew. Then the Social Security office had to expand and that meant retirement for the elderly. But to make it work even better, the cap of 106,000 or 12% must be removed. What made Social Security a hated agency? Reagan's tax cuts for the rich.

[defect530]

I just got a letter from social security telling me to save 50$ a week so I can retire. This is bull shit. Im going to eat a vile of acid at age 70. then it's someone else's problem Ha Ha

[jimjim13061]

With the national debt increasing, by 2030 tax payers will be forced to pay higher tariffs, banks will increase the amount of interest on loans, a college education will be overpriced, gas will be $10 or more a gal, cost to repair the national infrastructure ..should I go on? There's no way that the government will be able to hold onto the Social Security fund. Save money? If you're a lucky GenXer you'll have a parent die and leave you something. If not, get used to a downsized life...start now.

[cmtmj2007]

The baby boomers, which are the nations most fortunate generation, will bankrupt Social Security for us Xers who never received the same prospects the previous generation enjoyed. They out number us in terms of voting blocks and will use their numbers to force the government to tax our very existence so that they receive (steal) every last penny from us. Say no to 700 Billion.

[celticsarebest]

Did anyone catch that 1 week special on gereration xers and retierment on the USA newspaper a few mounths ago?

[mhirtes12]

Social Security is probably the single most fiscally stable program the government HAS. It's about the LAST government program that's in risk of fiscal collapse.

The sky isn't falling. Certain people in the government want to dismantle the entire New Deal and are doing everything they can to make people think the sky is falling, but really, if SS is in danger of collapse because in three decades it MIGHT need to borrow money, then the rest of our government has already collapsed decades ago.