Free market entrepreneurs have no monopoly on money-making skills. Those gifts buy them good press. But they also buy policies that could impoverish future generations. Through their own good work, they've already contributed enormously to the betterment of human life. Rick Henderson of Reason in The Washington Times, May 12, 1997.
Baby boomers appear to have fared even worse.
According to a survey conducted for Fidelity Investments by the research group Public Agenda, one-third of the respondents believe Social Security's funding problems are so severe that they do not expect to receive any benefits from the system. The heightened anxiety and the strong economy of recent years, however, don't appear to have prompted people to save more for their retirement. That included 30 percent of those closest to retirement, now aged 51 to 61, and 40 percent of baby boomers 33 to 50. Two in three respondents, or 68 percent, acknowledged they could save more if they made the effort, although one-third believed they cannot save because of a lack of discretionary income. From the Associated Press, May 19, 1997.