According to The Washington Post's Michael A. Fletcher, for "the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents [...] ."
The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans. And the full extent of the damage is only now being grasped by experts and policymakers.
There was already mounting concern for the long-term security of the countrys rapidly graying population. Then the downturn destroyed 40 percent of Americans personal wealth, while creating a long period of high unemployment and an environment in which savings accounts pay almost no interest. Although the surging stock market is approaching record highs, most of these gains are flowing to well-off Americans who already are in relatively good shape for retirement.
Liberal and conservative economists worry that the decline in retirement prospects marks a historic shift in a country that previously has fostered generations of improvement in the lives of the elderly. It is likely to have far-reaching implications, as an increasing number of retirees may be forced to double up with younger relatives or turn to social-service programs for support.
|Keyboards That Rise Out of Touch-Screen Devices|
|100 years on, thinker's predictions mostly true|
|Despite What Rick Perry Says, Climate Change is Real, and It's Going to Suck|
|The Super Capacitor: Environmentally-Friendly, Fast-Charging Batteries out of Graphene|
|Space Travel Only Possible in Science Fiction|
|“The Pentagon’s relatively quiet tip-toe into converting the U.S. Armed Forces to a machine-majority force.”|
|“Regular exposure to humans results in white patches in the fur.”|
|“The idea is that someday in the future scientists will scan your bricked brain and turn it into a computer simulation.”|
|Future Horizon's Plasma Lightsabers|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|“Facebook played a 'determining role' in stirring up hatred against Rohingya Muslims.”|
|CaptchaTweet: Write Tweets in Captcha Form|
|“New green policies so hard-hitting and extensive they can be felt across the world.”|
|“Clearly, no one is going to build weapons that have sufficient general intelligence to, for example, decide and execute a plan to take over the world.”|
|3D Printed $10,000 House|
|“Contains all the same components as cow’s milk, [...] but doesn’t use any animals in its production process.”|
|When the Wrong Hastag Can Get You Killed by an Assassination Drone|