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Politics : Sharks in the Septic Tank
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To: Lane3 who wrote (6886)2/28/2001 11:29:48 AM
From: TimF  Read Replies (1) of 82486
 
Interesting article Karen.

Another quote from it
To predict the future is (as Twain said) always iffy. But few rich countries are anticipating it. They should be tempering the vicious circle of higher retirement spending, heavier taxes on workers and fewer children. This means gradually raising retirement ages and scaling back benefits, especially for wealthier retirees. It isn't happening. In the United States, it has (so far) been impossible to make basic changes in Social Security and Medicare. In France, Germany and Italy, the average retirement age is 59, says Hewitt. Democracies have trouble facing the future when powerful constituents in the present have so little stake in it.

I do agree with this. If people are living longer they also have to work longer (or raise there own savings and
investments to the point where they can have a longer retirement). I think retirement ages to get government
pensions should go up in the developed countries but in many they are not or they are going up very little.

Tim
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