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Fiscal trouble ahead
for most future retirees

Washington Post, by Michael A. Fletcher

Original Article

Posted By:Dreadnought, 2/17/2013 12:00:10 AM

For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research. The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans. And the full extent of the damage is only now being grasped by experts and policymakers. There was already mounting concern for the long-term security of the country’s rapidly graying population. Then the downturn destroyed

      


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Reply 1 - Posted by: cincinnati whig, 2/17/2013 12:08:07 AM     (No. 9180900)

bad news for cruise lines & Indian casinos

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Reply 2 - Posted by: Balogreene, 2/17/2013 12:24:18 AM     (No. 9180912)

As a sixty-year old, I´ve known this for 20 years. Reviews are great, raises are 3% tops. I´ve worked for companies that ask people to re-use paper clips. That quit supplying paper plates, napkins, even paper cups. Companies no longer supply coffee. They brag about great quarters, or even making projections, but lay people off, and refuse to give even COLA raises.

I guess at least we have jobs, but it´s not as easy as it was. I have no children, but I know I had a good start. The young ones today don´t have that. They won´t unless we straighten things out.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Country Boy, 2/17/2013 12:24:38 AM     (No. 9180913)

"Liberal and conservative economists worry that the decline in retirement prospects marks a historic shift in a country that previously has fostered generations of improvement in the lives"Such garbage. All these problems are lib problems, all lib schemes to get re-elected.

Now that the chickens have come home to roost, Yeah, blame conservatives.

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Reply 4 - Posted by: Sanspeur, 2/17/2013 12:29:34 AM     (No. 9180916)

Not to worry.. That´s why the death panels.

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Reply 5 - Posted by: oh-heck, 2/17/2013 12:55:31 AM     (No. 9180928)

The baker used to make a hundred pies a day and gave 20 to government to distribute to the needy. The Progressive government improved things with new rules on how to prepare the pies, programs to supply needy bakers with ingredients, and of course an increased levy of pies. Because the baker is spending time reading rules and sharing ingredients with the needy, he now only makes 90 pies a day. The government 30 to redistribute. However 6 are stolen, 3 are dropped or allowed to spoil before being delivered, and 1 goes to government collectors. The baker is going out of business yet the needy are still only getting 20 of the pies.

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Reply 6 - Posted by: chumley, 2/17/2013 12:59:43 AM     (No. 9180930)

#2, I can sympathize. I am 52 and will likely never retire. I expect my 401k to be worth nothing and social security to be gone. If I am very lucky I will die on the job and get a better insurance payoff.
I especially feel for my kids and grandkids. While my employment is far from optimal, it is better than none at all. They will be lucky to get part time with no benefits. Lots of people are getting no job at all.
Thats what communism brings. Shared misery. Funny how we studied that in high school but the lessons seem to be forgotten.

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Reply 7 - Posted by: 4Justice, 2/17/2013 1:31:49 AM     (No. 9180937)

Me too. I am 50 and won´t ever be able to retire. I lost my retirement funds some 16 years ago and haven´t been able to make it up. So, I´ll work until I drop. I´ve already resigned myself to that fact, especially since Obama and the Dems took over.

Forget the pies...we´ll be lucky to smell crumbs!

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Reply 8 - Posted by: NotaBene, 2/17/2013 2:31:40 AM     (No. 9180950)

The American people should have voted for Mitt Romney.

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Reply 9 - Posted by: Topic Thunder, 2/17/2013 2:36:01 AM     (No. 9180952)

But NOT if you´re a retired government employee, then you´re set for life. The slave taxpayers have the privilege of supporting your lavish retirement until they drop dead!

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Reply 10 - Posted by: Spidey, 2/17/2013 4:55:01 AM     (No. 9180997)

It´s really funny to hear people claim that SS is solvent until the year 2020 or beyond when it´s simply another money in.money out program.

Idiots that write stories like this are totally oblivious that the root cause of today´s problems are a result of the left´s war on capitalism.Programs like SS were structured around a capitalist country and what´s supposed to fill that void when business after business goes under or moves overseas?

Who in their right mind is going to open or relocate here with the uncertainty of Obamacare and Dodd/frank regulations?

The left has always claimed that tax cuts don´t work but they´re getting a stark case of reality when the SS deduction went back up. Oh,those tax cuts work but not Bush´s.

Paying people to do nothing in the form of an unemployment check stimulates the economy according to the left. If that´s the case why not give everybody an unemployment check whether they work or not?

Then along comes the paycheck fairness act which will force more women out of the workforce rather than the employer paying a premium for their skill set and bypassing workplace seniority.

Women and black unemployment are up under Obama,yet they rabidly voted for him.

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Reply 11 - Posted by: Butch, 2/17/2013 5:27:21 AM     (No. 9181016)

No kidding #8. America could have an honest, hard-working problem-solver in the White House right now, rather than a professional flim-flam man who takes $1000-an-hour golf lessons in Florida while America crumbles - and rubs our noses in it.

Mitt Romney wasn´t perfect, but he was a thoroughly decent, well qualified candidate for that office. Barack Obama is a malignant narcissist who cares about only one thing in the entire world: Barack Obama.

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Reply 12 - Posted by: Trigger2, 2/17/2013 5:28:54 AM     (No. 9181017)

As another poster said, that´s what the Death Bill was for. Kill the seniors off by denying health care and the costs go down. The Death Bill worked out so swell for those 65,000 who are getting goobermint handouts for not being able to buy insurance, that the program is running dry already. Success!!

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B-G1


 
Reply 13 - Posted by: ladychatalie, 2/17/2013 6:50:36 AM     (No. 9181062)

I remember in the 1980s telling my older brother that there would be no SS by the time I qualify for it. Even then, politicians expanded the purpose of this program and used the money as part of the general fund for whatever waste, fraud, and abuse they could dream up. Bridges to nowhere, underpasses for turtles, studies on ketchup flow rates. Our government is and has been FUBAR since our dear Mr. Reagan departed.

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Reply 14 - Posted by: suziesuburbanite, 2/17/2013 7:50:52 AM     (No. 9181151)

And Obamacare sucks money out of Medicare. Hate to say it but Bambam just really doesn´t care about old people

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Reply 15 - Posted by: Hooter, 2/17/2013 11:50:29 AM     (No. 9181564)

Zero doesn´t care about anyone. But killing off the elderly is the plan.

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