And what about these soon-to-retire workers?
The Social Security Administration reports that 52 percent of Americans has no private pension coverage.
This evidently means that these folks think that the small income they receive from Social Security will be adequate for them to live on. However, because the politicians in Washington, D. C. have refused to improve Social Security, it will be insolvent by 2012.
Even more shocking, 31 percent of the workforce has no savings set aside specifically for retirement.
In the Winter of 2008, Republicans and Democrats are running for President. Yet none of them is talking about these issues. That is, unless you count the fact that they lie spending even more money the Federal Government does no have on free universal health insurance.
The life expectancy for a 65-year-old has grown from 12 1/2 years in 1935 to 17 years today. So as this generation moves into its retirement years, it will stay around longer than past generations.
DEEE-Nial ain't a river in Egypt!
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