Social Security cannot afford to pay all of the benefits it has promised. Beginning in 2017, it will run cash deficits that get bigger every year.
Minorities are often portrayed as wanting to shift the burden of retirement planning onto the federal government or their employers. This soft bigotry of low expectations has the additional vice of being untrue. By a roughly equal amount, whites, African-Americans, and Hispanic Americans overwhelmingly believe that it should be they—not the federal government or their employers—who have primary responsibility to financially plan for retirement. Personal accounts in Social Security give all younger workers the means to take control of their retirement future.
Social Security has a problem, and we need to fix it. Personal accounts are the solution.
Race Not Relevant In Retirement Self-Reliance Preferences
Source: Women’s Institute for a Secure Retirement—National Retirement Poll 4/05