Chicago Tribune (September 26)
“The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality.” Demographics is one of the drivers. “On one side, at the peak of their earnings, are baby boomers who are nearing retirement, if they haven’t already retired. On the other side are millennials and Gen Zers, who are in the early stages of their work life and have lower salaries.”
Tags: Baby boomers, Demographics, Earnings, Gap, Gen Zers, Income inequality, Millennials, Retirement, Salaries, U.S., Work
Wall Street Journal (June 2)
“As some 75 million baby boomers prepare to retire, immigrants will be crucial to keeping the federal pension program afloat.” Without immigration, the U.S. social security program faces an estimated 75-year social security shortfall of over $8.5 trillion (net present value). “Immigration won’t solve all of Social Security’s financial problems…. But immigrants unquestionably narrow the funding gap. More generous immigration is a wise step toward solving the entitlement crisis in Washington.”
Tags: Baby boomers, Entitlements, Immigrants, Pensions, Retirement, Social security, U.S.
