That seems to be the answer dollar crisis that the GOP has for the crumbling retirement infrastructure….every time they control something in DC their first reaction is that workers need to retire later than last fiddled with…..
And it is that time again…..GOP is trying to push through another extension on your working ages…..
But is that truly the answer to the looming crisis?
Right-wing lawmakers’ preferred method for dealing with the United States’ looming retirement crisis—telling older workers to keep toiling until they’ve saved enough to stop—is “not a viable solution,” says a report published Wednesday.
“Millions of people are entering their retirement years with insufficient savings to cover basic expenses and medical bills,” the new analysis from the Economic Policy Institute (EPI) notes. “In response, some policymakers have proposed that older Americans could delay retirement to increase their savings.”
But this ostensible fix “overlooks the large group of older Americans who work in difficult conditions—ranging from the physically demanding to the outright dangerous,” EPI points out. “If older Americans endure difficult conditions that often force earlier exits from the workplace, proposals to delay retirement make little sense.”
Rather than forcing aging employees to postpone retirement, lawmakers should implement full-employment macroeconomic policies to ensure that workers have “access to jobs that pay fair wages and provide solid benefits during their prime working years,” says the report, calling the latter approach “a more effective way to close the retirement savings gap.”
To make sure “older workers can afford to retire when they need to,” EPI also urges policymakers to bolster “support for workers with caregiving responsibilities, expand Social Security coverage and benefits,” and improve “conditions for all workers through collective bargaining, stronger labor standards, and more effective health and safety protections.”
Those who portray working longer as a legitimate solution for people who cannot afford to retire assume that “as workers age and gain more work experience, they are able to transition into jobs that are less physically demanding, less onerous, and less hazardous—making it possible to extend their working lives,” the report notes. But as it goes on to show, “many workers in fact see little or no improvement in working conditions as they age.”
Wait an see just what silliness the GOP has to offer to solve this problem….and believe me it will be silly.
I Read, I Write, You Know
“lego ergo scribo”