Advocates of privatization are using the financial stress of the baby boomers' retirement to undo the advances that Social Security has brought. Relieving the financial pressures, however, has become a phony excuse for privatization.
elite press has urged Americans to be anxious about their Social Security
pensions. Newsweek, the New Republic, and the Economist,
among others, express a common fear that the system is going bankrupt and
dragging down the economy. Polls show that the public supports the principles
of Social Security but worries it will not be there when they retire. There
is a building sense that the system has somehow not kept up with the changes
in the nation's circumstances-in particular the age distribution of the
population and the performance of the economy.