February 16, 2005
Social Security System In Trouble, Say Americans


(Angus Reid Consultants - CPOD Global Scan) Many adults in the United States believe their countrys Social Security system faces major hurdles in the future, according to a poll by International Communications Research, the Washington Post, the Kaiser Family Foundation and Harvard University. 70 per cent of respondents believe the program will eventually go bankrupt.

U.S. president George W. Bush vowed to reform Social Security during his re-election campaign. In his Dec. 11 radio address, Bush warned that the system "is headed towards bankruptcy down the road" unless significant changes are enacted.

In his Feb. 2 State of the Union address, the president further explained his rationale to create voluntary personal accounts for younger workers, saying, "Your money will grow, over time, at a greater rate than anything the current system can deliver." 54 per cent of respondents support a plan to create private investment accounts where people could invest some of their contributions in the stock market, while 57 per cent support a similar scenario with personal investment accounts.

Polling Data

Suppose Congress doesnt take any actiondo you think the Social Security program is likely to go bankrupt eventually, or not?

Yes, will go bankrupt

70%

No, will not go bankrupt

28%

Dont know

2%

Would you support or oppose a plan to create private investment accounts in which people who chose could invest some of their Social Security contributions in the stock market?

Support

54%

Oppose

42%

Dont know

4%

Would you support or oppose a plan to create personal investment accounts in which people who chose could invest some of their Social Security contributions in the stock market?

Support

57%

Oppose

40%

Dont know

3%

Source: International Communications Research (ICR) / Washington Post / The Kaiser Family Foundation / Harvard University
Methodology: Telephone interviews to 1,263 American adults (First Question), 612 American adults (Second Question) and 624 American adults (Third Question), conducted from Feb. 3 to Feb. 6, 2005. Margin of error is 3 per cent.

Other poll highlights: Bush approval at 50 per cent; federal government spending; why the system faces difficulties; views on retirement; trust on politicians to handle Social Security.

 

Complete Poll (PDF)