[Racehorse]

I cannot figure why anyone under 40 would not want private accounts... it boggles the mind.

Not really.

One of the objections to the present system is it discourages savings, because people look at SS as the bird in hand, and of course, there will always be time to get serious about retirement.  But, even without the SS safety net, you come against the problem where many young people would rather spend their money on present wants rather than future needs.

[Conservative Goddess]

"But, even without the SS safety net, you come against the problem where many young people would rather spend their money on present wants rather than future needs."

Absolutely true. To be truly free, we must also be free to make mistakes. We must also resist the temptation to bail out the people who are stupid enough to spend every last dime during their youth and middle age. We consistently reward irresponsible behavior with social programs and penalize the responsible, because they're the only ones who can pay for all this socialism. Time to stop the maddness. Let everyone, every family, fall or rise on their own merits, and on their own earning/saving/spending habits.