If You Work In America, You Will Wish You Watched This current events world news 2022
We must be very straightforward with you today, because this is a very serious issue. Our hardworking population never seems to catch a break. We play by the rules, do everything right, dedicate ourselves to our jobs, and yet our incomes, do not keep pace with the cost of living. Our monthly bills only get higher and higher, and our quality of life is on a steady decline. It almost feels like despite all of the effort, the American dream is totally out of the reach of most Americans, and the worst part of it is that the vast majority of us will probably have to work until we die. The worsening retirement crisis, plauqing the United States means that over half of the population will never be able to hang their work hats up to relax and to enjoy their senior years. And many of those who do retire face the risk of falling into poverty in old age as they run out of funds and Social security benefits, failed to provide an adequate safety net for everyone. On top of that, given that the price of pretty much everything we buy and consume on a daily basis continues to reach one record high after the other, and the fact that 61% of Americans are living paycheck to paycheck. For years we’ve been warned that our country was marching toward a retirement crisis of epic proportions, but still nothing has been done to effectively prevent things from getting worse and conditions have become increasingly more difficult for U.S workers to have the chance to put a percentage of their incomes aside for the future. The truth is that our retirement system is broken, and at this point everyone agrees that it is heading for a major disaster. Did you know that nearly 40% of all American workers have absolutely nothing saved for retirement? 40%. And did you know that pension funds in the United States are currently underfunded by about 6 trillion dollars. The numbers are absolutely mind blowing. It’s getting crystal clear that our society simply does not have the resources necessary to keep all of the promises that have been made to us. The baby Boom generation poses a unique challenge for our society because they represent a huge demographic bubble that has fundamentally altered our culture as they passed through each stage of life. Now they are retiring in extremely large numbers and many of the baby boomers are completely unprepared for retirement. Of course, most of those coming after them are not preparing for retirement either, and the fear over what will happen to the country when Generation X joins baby boomers at retirement age continues to grow. Even when everything was going well, inflation was nonexistent, interest rates were low, stocks were skyrocketing. We still had a multi-trillion dollar savings shortfall. But then we faced the worst global health emergency of the century. #america #economy
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If You Work In America, You Will Wish You Watched This