This paper is about our countries Social Security problem The Presidential election was in November 2000 and the question that many of Americans had on their mind is what are you going to about the Social Security crisis? This question has our nation divided between generations. The elder people of our nation (ages 50 and up) feel confident that Social Security will be there for them and that it should be left alone. On the other hand the Baby Boomers (ages 31-49) and Generation X (ages 18-30) lack this confidence fearing that they will never receive Social Security, and the money they put in would be a waste. Many politicians are afraid to touch this issue because the elder still make a large number of the voting block. Speaking as a member of Generation X it is our duty to vote for change in Social Security to ensure we will have something to look forward to when we retire. We can not wait any longer to defeat this crisis. The Social Security crisis is the threat of the Social Security system going bankrupt. Well it’s more than just a threat it’s the reality. The common belief is that Social Security is a saving fund where the government takes a certain percentage out of our weekly pay. Then that money is put into a savings fund where it is held until we retire. When we retire the money is returned to us in monthly checks plus the interest. This is where we are wrong. Social Security is a pay-as-you-go system where the current workforce pays for the present retirees, and then when they retire they will depend on the younger workforce to pay for them and so on and so on. Which is fine when you always have more workers then retirees. This is the problem the government will face when the Baby Boomers retire in the year 2010. In 1950 there were 7.2 workers for each retiree. Today there are 3.2 workers for every retiree, an by the year...
