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Breaking Down the Retirement Savings Argument
Andrew Biggs, resident scholar at the American Enterprise Institute and a Forbes contributor, takes a look at one of the major premises of the popular Social Security expansion argument in an article titled “My Favorite Misleading Statistic on Americans’ Retirement Savings.” The article, posted on Forbes.com, challenges GAO findings on household savings levels, citing the exclusion of defined benefit pensions as a factor in determining the inadequacy of financial readiness. Likewise, he suggests that the inability of poor households to accumulate what is considered to be adequate savings argues more for targeted Social Security reforms than for sweeping program expansion. Read the article here…
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