Expect Less in 2011–Is America’s Standard of Living Declining?
One of the darker themes of the current recession and its erratic, mismanaged recovery, is that the U.S. is headed for a lower standard of living. That is not officially articulated, of course, but implied in the many reports about long-term unemployment, proposed cuts to retirement benefits, 401k contributions, unpaid internships, and the rise in long-term unemployment. But it is certainly an unarticulated theme among the majority of Americans. More…
Read more...What Makes Retirees Happy? Ask the Europeans
Millions of people in the first wave of Baby Boomers entering retirement face more stress than they did in their working lives. Their home equity has shrunk, along with their portfolios. Partisans in Congress threaten to cut Social Security, a key component in retirement income, along with the new health care program. And for those retirees who want to work, they face rampant age discrimination in an increasingly competitive workplace….
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