More than 1.2 million protesters marched in France Tuesday as rail workers and refinery staff began rolling strikes and trade unions stepped up their campaign to try to stop Emmanuel Macron’s plan to raise the pension age to 64.
All the talk of Social Security “going bankrupt” or becoming “insolvent” is just plain wrong. This is just scare talk designed to convince people that big cuts to the program are necessary and inevitable. It’s simply not true.
Teresa Ghilarducci and Teresa Ghilarducci
Most middle and lower wage older workers are not able to retire and must work to avoid poverty and maintain living standards. For work to be a bulwark against old age poverty, work must be decent, and work and retirement policy must be compatible.
In the 1960s, more than a third of seniors lived in poverty. Federal programs like Medicare to help the elderly, the situation improved significantly. But last year, the poverty rate for those 65 or older increased, even as it sank for everyone else.
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