Today's workers will need Social Security's guaranteed retirement benefits every bit as much as today's elderly. We live in a world in which more and more economic risk is being shifted to individual workers. Employers are discarding meaningful pension promises and telling workers that they are on their own with defined-contribution retirement plans. At the same time, stagnant wages have meant that workers are finding it harder and harder to save on their own. For today's workers, Social Security may become even more important.
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