Social Security's future

When Social Security was started, the life expectancy was not even 70 years old - so the odds suggested that most people would collect SS for less than 5 years. Now the life expectancy in the U.S. is 78 - which means 1/2 of the people in the U.S. would collect SS for 13 years! More people, plus triple the time collecting, and you have a big part of the problem.
But, a little perspective - SS was never intended to be a retirement program - just a supplement. The amount that your employer pays you when you retire is less than what you make while working, and SS is meant to fill that gap. Benefits have been adjusted upward to keep you just above the poverty line - we're talking survival, not living - an average of a few hundred bucks a month!
Other issues: As I just suggested - benefits were increased "more than they should have" during past economic crises, but no politician has the guts to reduce them. The Baby Boomers is another big part. Also, there are more Americans choosing to stay at home & not work, so they are not contributing.
So we have less money going in, more coming out, and the amounts leaving are doing so for a longer time... I do believe that the "retirement age" will be raised for most of you, to at least 70. As for privatizing...well, we're already supposed to be saving for our retirement, so what does that matter?!? Do not plan or expect to collect from the government - even if you do, it won't be much. The earlier you start to save, the better.
The same thing goes for saving for your kid's college education. Just because you got aid from the government (if you did) doesn't mean that your kids will. First, those programs may not exist. Second, you might get such a good-paying job with your new college degree in a few years that your kids will not qualify! (Isn't that why you went to college?!?)