I keep hearing social security and medicare being referred to as "pay as you go", this seems a bit strange to me that the young today are paying for the old when the old have been pumping money into the system most of their adult lives. It seems to me that one generation would have had to get a free ride for this to be a pay as you go, or the government simply squandered the funds that were paid in by the first generation to use this system. Obviously these programs have received some news time lately as they could be in trouble of drying up soon. I don't think most young people expect them to be there when they retire so that is already a good safety net to getting rid of at least one of the programs. This is a system you pay into all of your life, why shouldn't you be able to keep your own money for retirement? In fact each person having their own retirement fund is the most efficient way to pay for this because birth rates might fluctuate. Thoughts?