This paper summarizes an investigation of a specific set of findings from the Monitoring the Future project, an annual survey of the attitudes and values of high school seniors that has occurred since 1975. The findings investigated relate to indicators of anxiety among these students about the threat of nuclear war. The study developed two distinct constructs from combined items on the survey: nuclear concern and nuclear despair. Surprisingly, a very low correlation emerged between these two constructs. Nuclear concern correlated significantly with interest in government, political efficacy, concern about other social issues, opposition to unilateral disarmament and others; whereas nuclear despair correlated with low self-esteem, political alienation, acting out, and various indicators of poor mental health. The overall findings, discussed in detail, suggest that the construct of "nuclear anxiety," which does not clearly distinguish between concern and despair, is too complex and multivariate to furnish reliable political and mental health implications. However, the implications of the distinction between nuclear concern and despair are very important, both politically and psychologically. Three visual displays are included. (TE)