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View Diary: Americans' Retirements Are in Tatters. What Does That Mean? (129 comments)

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  •  you've hit on the two obvious but overlooked (7+ / 0-)

    There are two main flaws in most of the Congress people's arguments:  

    (1) many people who want to or need to work beyond age 65 are not welcome in the job market; those who lose jobs at age 45 or after may not be able to locate another; and

    (2) many people who did save, acting responsibly, found that the two Bush depressions, in 2001 and in 2007-2008, saw huge chunks of their savings disappear, even though their savings were invested in conservative funds.  

    Yet Congress and the president seem not to recognize these facts and proclaim that, "of course, we must stop these massive handouts"  to all these lazy, careless people.  

    And, too, even those retirees who believe they are well situated may find everything gone if there is yet another depression and/or if they experience medical problems, when even the costs of "minor" infirmities can cost hundreds of thousands in hospital rooms, doctors' visits, operations and prescribed drugs.  Their savings and their homes may be lost in a moment.

    On the bright side, perhaps some corporate farms will be able to sell off extra acreage to the government, at a premium, so there will be enough "potters' fields" for all the senior citizens who cannot pay to live and cannot pay for a final resting place.

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