FROM CNN's Jack Cafferty:
For the first time ever 60 percent of American workers don't think they will get any Social Security when they retire.
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A USA Today/Gallup Poll shows six in 10 Americans who haven't retired yet say there will be nothing for them when they stop working.
That's the most pessimistic outlook since the question was first asked more than 20 years ago.
Younger Americans are least likely to believe they'll one day get Social Security... while those older than 55 are confident they will get benefits.
A majority of retired Americans think their benefits will be cut. Which is especially troubling when you consider that 54 percent of retirees say Social Security is their major source of income - more than any other single source.
Our government has yet another crisis on its hands, one that's been coming down the tracks in plain sight for years - yet it's not being dealt with.
Already this year Social Security will pay out more in benefits than it collects in contributions. Plus there's the whole issue of the "trust fund"... which is filled with nothing more than IOUs.
Social Security monies that are collected are siphoned off into the general treasury and spent on other things.
With a high unemployment rate, people retiring earlier than expected… and more and more baby boomers getting ready to retire, something's gotta give.
Is anybody listening?
Here’s my question to you: Do you think Social Security will be there for you?
Interested to know which ones made it on air?
Cy in Arlington, Virginia writes:
I'm 55 and I think there will be SOME money for me in 8 or 11 years. What I am really depressed about is the reality that I and many, many more Americans will probably need to work until we die, even with Social Security, AND, hardly anybody wants to hire old people. We are more expensive to insure and younger managers sometimes feel threatened by people who are more experienced, and possibly smarter, than they are.
Beverly in New York writes:
Sadly, Jack, I do not believe Social Security will be around when I retire. No matter what the annual report I get from Social Security says. I am maxing out on my 401K and contributing annually to my IRA, and saving like a miser to insure my retirement. Being born on the wrong end of the baby boom (1963,) I've already seen my retirement age go from 65 to 67, probably 70 if the government doesn't get its act together.
Rus in St. Paul, Minnesota writes:
Jack, I'm 32, and I've been paying into Social Security for 17 years now, and I'm planning to never see a dime back from it. No politician is interested in fixing a problem for folks 30 years from now. What do they care? They won't be up for re-election in 2040 most likely. To do the right thing now will cost them votes.
Becky in Indiana writes:
By the time I reach my retirement age of 69 and 7 months, I am sure there will not be any Social Security left for me and my husband nor will we have any retirement because we had to live off it while being both unemployed over 18 months in past 2.5 years. So now we will become a burden to our children or work until my last breath.
Ron in Indiana writes:
Bad news, Jack, the elite have stolen all the gold from Fort Knox, taken every dime from Social Security, stripped the equity from our homes and now they are coming after our retirement funds. I am 44 and will have to work until I am 102 just so I don't starve to death.
Ryan in Texas writes:
Hi Jack. I hope so, but the fact is we have to plan like it won't be. Hope doesn't pay medical bills.
Filed under: Social Security
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV.