New York Times (June 19)
Most politicians worry about “saving” social security. The best solution might be “raising” it. Social security currently pays out 39% “of the average worker’s preretirement earnings,” but this could be raised to 50%. Why? Nearly 34% of “Americans have nothing saved for retirement — not even a hundred bucks.”
Tags: Retirement, Savings, Social security, U.S.
The Economist (April 7)
“This painful truth is no longer news in the rich world, and many governments have started to deal with the ageing problem.” But the official retirement age will have to rise much more than is being discussed. “Older people are going to have to stay economically active longer than governments currently envisage.”
“This painful truth is no longer news in the rich world, and many governments have started to deal with the ageing problem.” The official retirement age will have to rise much more than is being discussed. “Older people are going to have to stay economically active longer than governments currently envisage.”
Tags: Aging, Government, Retirement
Washington Post (January 23)
President Obama will give his third State of the Union address on Tuesday. The speech is the right moment “for President Obama to pitch fiscal responsibility.” The Post calls on him to take a “bold” stance by supporting tax increases, cuts in spending and entitlement programs, and a higher retirement age.
Tags: Obama, Retirement, Spending, Taxes
