Americans don't want to end Social Security to help with deficit

According to a recent poll conducted by research firm GfK Roper and funded by AARP, Americans largely disapprove of cutting Social Security in order to reduce the national deficit. The Huffington Post reports that polls results show that 85 percent of adults are against cutting Social Security. 72 percent were shown in the survey to “strongly oppose” social security. Resource for this article – Americans disagree with Social Security cuts to trim deficit by Personal Money Store.

'Me first’ is the response from Social Security recipients

It is surprising to see these numbers come from a Social Security system that is 75 years old and hotly debated. Since the AARP funded this survey happening, and the AARP members tend to be either on, or nearly on Social Security, seems like about right. 57 percent of anyone under the age of 50 answering the survey said they would rather pay higher payroll taxes with a Social Security guarantee than be paying what they are now and not being certain of what can be received. The “Baby Boomer” generation gets to relax and live off other people’s incomes, which is why they don’t care about the deficit that the younger generation is going to have to fix one day.

Raiding the trust fund

The Obama administration is presently looking into what should be done with Social Security, as the insurance program clearly is not sustainable in its current form. The majority are concerned they won’t get their Social Security anymore. Privatization would be great for those still within the work force while Baby Boomers wouldn’t be able to get their funds anymore, and taxes aren’t covering the program.

Two-thirds Americans afraid to lose Social Security as an income

While two out of 3 Americans fear the direct effect that cutting Social Security would have on their budgets in the golden years, a whopping 80 percent are wary of indirect financial stress such action would cause families of fixed-income retirees. Clichéd old fears of a “poor house” or “debtors’ prison” rear their ugly heads, giving way to hysteria. However, nearly 80 percent of “the sky is falling” types do not even know – according to the poll – that if the Social Security trust fund is in fact drained, they’ll nevertheless receive benefits, just at a slightly lower level.

Discover more information on this subject

Bestyears.com

bestyears.com/parentstold.html

AARP survey

aarp.org/work/social-security/info-08-2010/social_security_75th.html

Cato Institute

cato.org/social-security

Huffington Post

huffingtonpost.com/2010/08/11/public-opposes-cutting-so_n_678374.html

Social Security Online

ssa.gov/

Milton Friedman on the Social Security myth

youtube.com/watch?v=rCdgv7n9xCY