The new issue of The Next Economy — published by the National Journal and The Atlantic – focuses on eight of the predicaments America faces in trying to regain its economic strength. The issue considers challenges in innovation, jobs, health care, entitlement spending and higher education; I contributed a short piece on how retirement security [...] [...more]
Today’s report on unemployment shows that the economy continues to gather steam – payrolls grew by 200,000 and the jobless rate ticked downward again, to 8.5 percent. But young Americans are having a much tougher time finding work than older workers. The seasonally-adjusted jobless rate for workers over age 55 stood at 6.2 percent last [...] [...more]
Was it a Tea Party downgrade? Beltway media has offered the usual pox-on-both-political houses analysis of Standard & Poor’s downgrade of U.S. debt and this week’s market meltdown. The two parties spent Monday blaming one other side for the debacle. According to this narrative, both sides must bear equal guilt. But what does S&P actually [...] [...more]
Retirement investors have struggled with a Jekyll and Hyde economy these past two years, where Dr. Jekyll lives very well on Wall Street while Mr. Hyde runs roughshod over a terrified Main Street. On Main Street, the jobless rate tops 9 percent and 14 million residential mortgages are underwater – a figure Deutsche Bank thinks [...] [...more]
Barack Obama’s hair turned a little gray during his 20-month quest for the presidency but he’s hardly the only one showing some age. President-elect Obama will lead a country that is aging rapidly as the huge baby boomer generation heads toward retirement. By the year 2030, there will be 72 million Americans over age 65–about [...] [...more]
