For more than two decades, policy analysts and advocates have debated question of equity (Williamson, Watts-Roy, & Kingson, 1999). Generational equity refers to distribution of resources among generations. Advocates of equity believe that social welfare programs benefit older adults at expense of young people (Williamson & Watts-Roy, 1999). According to Richard Lamm (1985), former governor of Colorado, name of compassion for elderly, we have handcuffed young, mortgaged their future, and drastically limited their hopes and aspirations (cited in Williamson & Watts-Roy, 1999, p. 14) Generational equity theorists are particularly concerned about social security. Third Millennium, advocacy group for young people, describes social security as a generational scam that requires today's workers to support who, in most cases, are more affluent than those supporting them (Third Millenium, 2000). In light of social security's financial difficulties, young people eventually will be forced to renege on their obligations to retirees or raise payroll taxes to as high as 40 percent (Third Millenium, 2000). This debate has now moved center stage. In a bold move, George W. Bush has proposed partially privatizing social security (Dao & Mitchell, 2000; www.georgewbush.com/speeches/promise.asp). This would allow individuals to invest part of their payroll deduction in individual investment accounts. Although he has yet to provide details, Bush clearly hopes to capitalize on widespread perception that baby boomers and their parents have taken advantage of young people. According to him, without reform, younger workers face...a lifetime of paying taxes for benefits they may never receive (Dao & Mitchell, p. A18). This column considers implications for young people of debate over equity and social security in particular. It also discusses how social workers might get involved in effort to defend social security. EMERGENCE OF GENERATIONAL EQUITY The current debate over equity dates back to 1970s, a time of flux and transition. During early post--World War II era, United States was clearly dominant power in world. While Europe and Asia struggled to recover from war, United States possessed an abundance of... land, food, power, raw materials, industrial plant, monetary reserves, scientific talent, and trained manpower (Hodgson, 1978, p. 19). This wealth and relative advantage helped create the most br6adly based middle class that world had ever seen (Phillips, 1993, p. 14). Many people, particularly those who were white, believed that they and their children were destined to live happily ever after...in a fairy tale of health, wealth, and happiness (Patterson, 1996, p. 311). These grand expectations were shattered during 1970s (Patterson, 1996). The Vietnam War, Watergate, and other events fueled a growing distrust of government (Patterson, 1996; Skocpol, 1997). This distrust was exacerbated by economic changes. During 1950s and 1960s, economic growth and increased prosperity were taken for granted (Patterson, 1996). Beginning in early 1970s, however, economy took a great U-turn' as wages and family incomes stagnated and inequality grew (Harrison & Bluestone, 1990, p. 5). Corporate profits also feil, leading many companies to introduce a Big Stick strategy (Gordon, 1996). During 1950s and 1960s, labor and management in many industries reached accord, linking wage increases with increases in productivity. Consequently, workers generally enjoyed rising standards of living. During 1970s, this agreement broke down, as corporations faced increased competition at home and abroad. Cooperation now gave way to conflict, and many firms went directly after their unions, aiming to tame . …