[SamAdams76]

It's the welfare state mentality. People feel they will always be taken care of by a government check if they fall on hard times, so in the meantime, they spend every penny they make without a care in the world about how they will finance their retirement.

Sadly, those who were responsible and saved for retirement, will have most of that money seized by the government - for redistribution to those who did not save.

[Dilbert San Diego]

I’ve heard talk in recent years, that we could see 401k and IRA accounts as we know them disappear. We could all be compelled to invest such accounts in government bonds as an investment. There are several trillions dollars worth of such savings which politicians may be eyeing to help save Social Security.