Millennials don’t trust Social Security as much as older people do. Why is that? And is it a new thing that younger people feel this way?
Labor economist Teresa Ghilarducci, at the New School in New York City, says that attitude has been around since the 1950s. “We’ve also seen that suspicion of young people about Social Security not being there fluctuates depending upon what political elites say about Social Security.” Ghilarducci also says young people tend to believe more in Social Security when they remember their parents and grandparents rely on the system for income in retirement.