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From San Francisco Bureau Chief Greg Lefevre

SAN FRANCISCO (CNN) -- When President Clinton talks about saving Social Security, as he did in his State of the Union address Tuesday, his comments may be falling on deaf ears among younger Americans.

Most of America's younger set do not believe Social Security can be saved, no matter what Washington says or does. Indeed, a whopping 95 percent of those 33 and under do not expect Social Security to be of much help when they get old.

Most younger workers -- 61 percent -- expect their own savings, not Social Security, to get them through retirement. Ironically, though, many are still not saving enough despite that conviction.

The nation's top monetary expert, Federal Reserve Board Chairman Alan Greenspan, believes the skepticism of younger Americans is well founded.

"Younger generations are turned off on Social Security because what they see, correctly, is that the rate of return that they will achieve on their payments of taxes and their employer's taxes is very low," Greenspan says.

In other words, while Social Security might be considered money for that rainy day of retirement, many younger taxpayers figure that money is as good as gone, having already rained on someone else.