President Obama unintentionally damaged his legacy recently by urging an expansion of Social Security benefits and, thereby, reminding everyone (and particularly future historians) that he failed to deal with one of the largest issues facing the country: an aging society.
“It’s time we finally made Social Security more generous, and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned,” he said in Elkhart, Ind.
Actually, it isn’t.
Obama perpetuates the popular but outdated myth that, by and large, the elderly are a poor, needy group. That they deserve more financial help. The 65-and-over population exceeds 46 million. Some fit this description. Most do not.
Various statistics on income and wealth can be adduced to prove, depending on one’s political purpose, that the elderly are well-off or almost destitute. What’s more instructive is how the elderly view their own financial situation and how this compares with other age groups. The evidence is conclusive: The elderly do better.
“It’s time we finally made Social Security more generous, and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned,” he said in Elkhart, Ind.
Actually, it isn’t.
Obama perpetuates the popular but outdated myth that, by and large, the elderly are a poor, needy group. That they deserve more financial help. The 65-and-over population exceeds 46 million. Some fit this description. Most do not.
Various statistics on income and wealth can be adduced to prove, depending on one’s political purpose, that the elderly are well-off or almost destitute. What’s more instructive is how the elderly view their own financial situation and how this compares with other age groups. The evidence is conclusive: The elderly do better.
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