Tag Archives: Social Security
The long-term budget outlook for the federal government is bleak. What is surprising is that this is considered news.
The forces driving the U.S.’s long-term budget problem have been known for decades. We’ve also known for years that sometime in … Read more
What’s the typical income of a U.S. retiree? $40,000? $50,000? Higher, lower?
It’s $31,157 as of 2008.
That’s the median income of households age 65 and older as reported by Pat Purcell of the Congressional Research Service. The median means … Read more
For many years, the government has published statistics on Americans’ age and employment. A version of that data is shown in the chart below. My sense is that these figures are the basis for much of the conventional wisdom on … Read more
Several years ago at a speech in New York, I warned that “a future President Clinton or McCain would face a daunting budget challenge from population aging.” My political forecast was off, but my economic and demographic forecast is unchanged.… Read more
Faced with a reduced (but recovering—so far) portfolio, children still in college, and not a clue what else I would rather do, I’ve given some thought to simply working forever. Not a bad plan, if I can manage it.
Many … Read more