In making his absurdist case for Social Security privatization, Bush usually employs a divide-and-conquer tactic: tell seniors its none of their business, and tell young people they can be rich (under his plan) or get nothing (under the current system).

But what do we know about retirement? As you might expect, not a whole lot. Can you blame us? First — we looking at a long time down the road, and we expect to make much more money as we get older, anyway. (And we’re still trying to pay off those student loans!) Second — politicians love to tell us it’s doomed!

According to USA Today [7/28/00], as a congressional candidate in 1978, George W. Bush was claiming “Social Security would go broke in 10 years” - 1988. (David Sirota)

Today, young workers who pay into Social Security might as well be saving their money in their mattresses. (George Bush, 5/2/01))

Combine that was a disinformation campaign and an incompetent news media ("math is hard"), and you get misinformed youth. According to a recent Harris Poll (via Mark Thoma):

* Only half of all adults know that Society Security guarantees payment for life.

* Only a quarter of adults know that Social Security guarantees protection against inflation.

* Only about half of all adults know that Social Security provides life and disability coverage for spouses or children of workers who die or are disabled.

* Only about one adult in every six know that Social Security has lower administrative costs than private pension and retirement plans.

* Almost half of adults do not know that Social Security has never failed to pay benefits.
[…]
Knowledge and ignorance are strongly correlated with age. The older people are, the more likely they are to be knowledgeable. Comparing people under 25 to those aged 65 who are well informed increase with age:—

* Those who know that Social Security guarantees payment for life, increase from 28 percent to 71 percent.

* Those who know that Social Security guarantees protection against inflation, increase from 11 percent to 42 percent (but only 42 percent, even people over 65).

* Those who know that Social Security provides disability insurance coverage, increase from 27 percent to 64 percent

* Those who know that Social Security has never failed to pay benefits, increase from 23 percent to 80 percent.

And of course, the president loves this misinformation:

We got folks saying I’m comfortable when I get my check. And we got taxpayers saying, I don’t think I’m ever going to see one. As a matter of fact, somebody told me one time, a poll – I didn’t see the poll, generally don’t pay attention to them, but nevertheless, it said that young people think it’s more likely they’re going to see a UFO than get a Social Security check. (George Bush, 3/4/05)

“Generally don’t pay attention to” polls? Haw haw haw!