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View Diary: The "Fiscal Cliff" and the Coming Retirement Crisis of the Middle Class (90 comments)

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  •  Egads, I agree with you! (40+ / 0-)

    Not only have we been getting tossed out of careers and positions we worked hard to obtain, but the hits on our 401Ks have been disastrous.  When you consider over the last 2-3 decades the majority of boomers have had steadily declining real wages that are needed more for survival than "standard of living," there's not been much left over to try to make up those hits to our retirement plans.

    In an America such as it was 20 years ago, I would be classified as disabled, draw disability, and/or be able to find and live with a less demanding job.  

    As the U.S. culture is presently, I'm like the others writing here.  No matter how much it hurts, I can't afford to stop working as long as an employer will keep me on.   The one hour commute each way makes my personal physical situation all the more worse, but selling my house... let alone getting a new mortgage in a new city at my age in this credit environment... is nigh on impossible.  (I've been trying for 2  years to get out of this house with at least -some- of my equity in tact.)

    Another commenter notes s/he thinks retirement will be mandatory in the future.  I can see that happening, as I have no faith we'll ever see full, gainful employment in this country again in my lifetime.   My firm belief (not agreed with by the PTB, of course), is we should have a set period of time where the retirement age is temporaility lowered to 55, with Medicare for all, and with the cap on SS contributions lifted.

    Also, instead of a chained CPI for adjusting SS checks downward, I believe a new formula for inflation should be designed that uses the numbers for products and services SS Recipients actually use (and for the rest of the 99%, too!).  What good is an inflation rate based on corporate machinery, large ticket goods, etc.,  yet not taking into account rising prescription, food, utility, and home medical device costs?  

    Of course, I also believe Home Healthcare Nurses and Home Assistants should be paid a more than living way, as well.  As caregiver, I know my mother is not the easiest person to deal with.  Anyone who can do this work, enjoy it, and do it well deserves praise, respect, and a good paycheck... not to mention a medal!

    Shoot me... I'm a liberal.  I believe in people over profits.

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