Social Security Is A Doomed Social Program That We Are Throwing Away Our Money Into

Its no surprise that within the next 30 or so years, social security in the US will fail. Unless some revolutionary new system is put into action, social security wont have enough money to support new recipients. So if you are 32 or under this post is specifically for you. Social security was a noble idea that came to fruition when life expediencies were not nearly as high and our public debt was much lower. Even now with the debt we need to pay back, our government is struggling to keep up payments. Sure they can just print the money, but this leads to a whole new problem that I wont go into in this post. Social security makes up a very large chunk of the government’s expenditures and where much of your tax dollars go. If the age to take advantage of social security isn’t severely raised or unless we cut expenditures elsewhere, the government will become overwhelmed.

However, even though most financial people realize that social security isn’t going to last, the younger generation still is required to pay into it every paycheck. We are essentially giving away our hard earned money to the government for a system that advertises itself as an investment, but in reality it is a toxic investment we will never see. Why should we pay into an investment we will never see , especially to a group of generations that have voted again and again to pass the debt burden down the line. We are the generation that years of debt consolidation will finally be dropped upon. I truly believe that we will be the generation that finally has to pay the piper.

Before you write this off as just another bitching millennial post, hear me out. The debt our country has taken on was not created in a night, it was created over a period of decades. Every time a politician has preached austerity and cutting the budget to lower the deficit, they weren’t taken seriously. No one running on the ideology of cutting social programs in the short term for long term prosperity is ever going to win because people only care about the short term and pushing the problems down the line. People are always won over by false promises of what benefits they could get out of an election until its too late and extreme austerity has to take place. Sure we could print our way out of the situation we are in, but that would just lead to a whole new level of problems. The social security generations pushed endless amount of debts onto somebody else and now it fall upon us.

The social security generations cared only about themselves in the short term and left our generations with the check. We are now paying for the mistakes they made, while also paying for their economic well being in one of the worst US job markets since the great depression. Because of the 2008 financial crisis , less people can afford to retire which leaves less job openings for newly graduating college students entering the job market. People joke about graduating college and working for McDonalds, but this has actually become a reality. The increase in college prices has pushed loans up to levels that can be paid off without a 9-5 job so people are forced to take 2 minimum wage jobs just to survive. In addition the loss of investment funds which many were going to use to pay off their children’s tuition was destroyed in the financial crisis as well. We are feeling direct results of pushing responsibility down the line and I fully believe that in the next 20 years we will see the college loan bubble pop and pull many down with it.

When the college loan bubble does pop, many are going to get dragged under, then who will bail our generation out ?There was a large precedent set for passing debt down the line it was not by our generation. I don’t want to blame everything on the social security generation because they did add to making America rich and prosperous, but I also don’t want to let them off the hook. My generation is as much to blame as well, because nothing seems to change. The youth are still voting to increase spending and provide more social programs, which we can’t pay for. We need to start realizing the trouble we are in if we continue down this dangerous path, however I don’t have much faith, which is why I think the loan bubble is going to pop.

There is a major hypocrisy going on today where people will complain about Netflix charging $3 more per month on subscription fees, but could care less about paying for social programs we will never see. Every year hundreds if not thousands of dollars are being siphoned from our paychecks directly for social security, something we believe to be an investment in our future, but we will never see. It is everyone’s fault for sitting by idly and watching as our debt has continued to pile, yet we do nothing to elect people that will actually take much needed actions even if they might momentarily hurt the economy. I know im not the only one in my generation that feels this way. Those who are part of the social security generations and will most likely receive some social security, how do you feel about this?

-Calaber24p