ABSTRACT
Faith in Social Security has been dwindling for decades, and the coming worsening financial pressure on Social Security, its economic consequences, and disillusion about Social Security will create a crisis of confidence, not only in the program, but in our political system itself. Social Security enjoyed enormous popularity in the forties and fifties. Its taxes were low, and the first generation of beneficiaries, who had paid those taxes for only a few years, were enjoying fantastic windfalls. Confidence in the nation, its government, and its institutions was high. Social Security's expansion to almost universal coverage—meaning that almost all elderly Americans now get benefits and that almost all working Americans now pay Social Security taxes and will likely qualify for benefits in turn—has created a very dangerous political situation. As Social Security has become a secular religion thanks to the Social Security Administration, American Association of Retired Persons, and others, the disillusion and demoralization will be devastating.
