Today, American families are working harder than they used to and making less. And, at the same time, even as they grow older, many Americans are socking less away in savings than they once did.
Both trends might keep us up at night. But with the baby boomers set to begin retiring next year, we cannot afford to ignore the second challenge. The problem is clear: This isn’t a nation of savers.
In the past two years, America’s personal savings rate reached its lowest level since the Great Depression. And in comparison to other industrialized countries, the United States ranked second to last in personal savings.
Read More of Supplementing Social Security off-site...Bill Baar says:
I liked the social security ownership accounts Bush proposed.
That had a lot of appeal to a guy like me who thought McGovern's Demogrants idea wasn't all that bad.
That the Democrats should write that off ( http://www.kanedems.org/node/153#comm... ) so fast a nice example of how politics changes.
Dan Kelley says:
Wouldn't it be wonderful if our government's tax policies encouraged savings on the part of the American public? Maybe if the Congress did not tax the interest income on bank savings more Americans would see the benefit of putting money away.