The C-SPAN video from 1995 is grainy, but the audio is clear: Senator Joe Biden is heard bragging about his support for freezing spending on Social Security as part of broader deficit reduction legislation. “I’m up for re-election this year, and I’m going to remind everybody what I did, at home, which is going to […]
Examining the Root Causes of America’s Unsustainable Fiscal Path
Prior to Social Security, Americans inevitably found themselves unemployed, unable to continue to work as they aged. In those circumstances, they routinely moved in with their adult children. Those who had no children or whose children were unable or unwilling to support them typically wound up in the poorhouse. When Social Security became law, every […]
Retiring in Florida: The Villages vs Reality
The Villages is 32-square-miles of unbridled growth. The 55+ community features three Disney-like town squares – Spanish Springs, Brownwood, and Sumter Lake – with a fourth, Southern Oaks, under development. Retirees zip along in colorful golf carts through the perfectly landscaped grounds on paths that were designed for the vehicles. The residents use the golf […]
Examining the Nest Egg: The Sources of Retirement Income for Older Americans
A new report finds that a large portion (40 percent) of older Americans rely only on Social Security income in retirement while only a small percentage of older Americans (seven percent) receive income from Social Security, a defined benefit pension, and a defined contribution account. Retirement income from these three sources is widely considered to […]
Working Longer Is A Lame Answer For Failing Pensions
It’s a journalism cliche that reporters always highlight the bad: they never write about the planes that don’t crash or the companies that don’t lie and cheat. But the topic of working into old age seems to be one of the most consistent exceptions. Most every example of journalism about working longer is of someone […]
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