For the last several generations retirees have depended upon a combination of private pensions, savings (esp. home equity), and Social Security.
For most people the first two sources of retirement income have just about vanished. That leaves Social Security which needs to expand to fill the vacuum created by employers who have gotten out of the pension business and the Wall Street which destroyed the housing market.
http://www.theatlantic.com/politics/archive/2012/12/dont-cut-social-security-double-it/266095/
Its become crystal clear that only the federal government can ensure our elderly don't live out their last years in poverty.
For most people the first two sources of retirement income have just about vanished. That leaves Social Security which needs to expand to fill the vacuum created by employers who have gotten out of the pension business and the Wall Street which destroyed the housing market.
http://www.theatlantic.com/politics/archive/2012/12/dont-cut-social-security-double-it/266095/
Its become crystal clear that only the federal government can ensure our elderly don't live out their last years in poverty.
