Many experts would argue that the public's views on Social Security are unrealistic. While Social Security is the main source of income for seniors today, majorities of non-retired Americans believe they will rely mostly on their own savings and Social Security will be a minor source of income. Younger Americans are notably less likely to be concerned about their retirement finances; yet they are more likely to say Social Security will no longer be available to them by the time they retire. While about six in 10 Americans say the government doesn't spend enough on Social Security, just as many mistakenly believe the government spends more on foreign aid than Social Security. (See Medicare Red Flags for related findings and Federal Budget fact files on federal spending.) Similarly, four in 10 Americans say they believe the federal budget deficit wouldn't increase if workers are allowed to invest a portion of their Social Security taxes and a plurality of Americans also believe allowing people to invest some of their Social Security contributions can be made with little additional new spending by government.

A plurality of Americans say the proposal to allow people to invest some of their Social Security contributions can be done...