Social security as an intergenerational concern

[Barry Rock <retiredrock@hotmail.com>]

I am concerned that the Baby boomers and generation X'ers have been
given insufficient and in some cases wrong information as to what
Social security really is. Most seem be believe that social Security
is just an individual retirement program. I can easily understand
why they believe it won't be ther for them or it won't provide for
them as it did for their parent's generation based on that limited
information. It appears to me that no one has placed much emphasis
on the other two legs that FDR envisioned. Working people in general
have little real income to "save" as one leg and fewer and fewer
companies are offering retirement programs. Those that are seem to
be cutting them back or eliminationg them. It seems to me that if
baby boomers and generation x'ers were given the full picture they
may direct more of their frustration at their employers to improve
the two legs of the concept and recognize that Social Security is
one part of a three part program. It represents the ONLY part that
should remain completely risk free. The other two can be put to
some risk depending upon the individual or retirement plan. If this
point is not undersatood I afraid that their ideas that it won't
be there for them will become a reality by some combination of
privatizing, other stock market investment or substantial reductions
in benefits.