Props to CBS Chicago’s weekend anchor Marissa Bailey, for running a segment on how Millenialls are getting the short end of the deal from Social Security. A quote from associate economic professor at DePaul University, Michael Miller may be a shock to the system for some viewers:
“The biggest misunderstanding is that there’s a big pile of money sitting somewhere. And there’s not…Baby boomers are going to begin retiring at a really quick pace, coming up over the next five years, and the number of people working is going to go down… When you add those two things together, you have a crisis.”
Bailey goes on to point out some possible solutions that are being discussed by politicians, which is in line with the solutions that are being discussed in the races that I covered in this blog a few days ago. I’m happy that she chose to put out a segment from the perspective of Millennials who are still decades away from retirement. Earlier this week I mentioned that new publications about Social Security have been taking bookshelves by storm, and nearly every one is written from the senior citizens point of view. About 19 out of every 20 articles that I find on the web are about how Social Security works from the point of view of senior citizens, or those who are nearing retirement. We need more journalists to air segments like this to bring awareness to our younger generations about how Social Security is no longer worth the investment.