Prayer zone for a better, empowering, inspiring, promoting, prospering, progressing and more successful life through Christ Jesus

Posts tagged ‘World War II’

McCain Blasts Hagel for ‘Massive Failure’ of Intel on Ukraine.


Image: McCain Blasts Hagel for 'Massive Failure' of Intel on UkraineSen. John McCain is flanked by Sen. James Inhofe while questioning Defense Secretary Chuck Hagel and Chairman of the Joint Chiefs of Staff Gen. Martin Dempsey during a Senate Armed Services Committee hearing on March 5.

By Cathy Burke

Sen. John McCain tore into Defense Secretary Chuck Hagel on Wednesday for a “massive failure” of U.S. military intelligence in the days before Russian troops marched into Crimea, reports said.

Defense News reported that in a testy, nearly five-minute exchange during a Senate Armed Services Committee hearing, McCain and Hagel bickered over whether the Obama administration and European allies were aware that Russian President Vladimir Putin was about to invade the Crimean Peninsula.

The Obama administration had a “total misreading of the intentions of Vladimir Putin,”NBC News reports McCain said.

But Hagel shot back: “I don’t get into the specifics in an open hearing.”

Still, he insisted, “early last week we were well aware of the threats” posed by Russian troops to Ukraine — and that he’d met with NATO officials and Ukrainian defense officials last week to talk about it, NBC News reported.

“This wasn’t sudden or new,” Hagel said.

GOP senators also hammered Hagel and Joint Chiefs Chairman Martin Dempsey for a spending plan they charged would hamper the military.

Committee Chairman Carl Levin, a Michigan Democrat, noted that the $496 billion defense budget represents a funding level equal to that of 2013 and 2014 — and more than $30 billion below the Pentagon’s funding in 2012, Defense News reported.

McCain sarcastically told Hagel “your timing is exquisite” in submitting the bare-bones budget plan “at a time when the world is probably more unsettled than it has been since the end of World War II,” noting tensions in Crimea, the collapse of Syrian peace talks, “China more and more aggressive,” North Korea test-firing missiles, “and the list goes on,” Defense News reported.

McCain also noted that China has just announced a 12.2 percent increase in its military budget, NBC News reported.

Oklahoma Republican Sen. James Inhofe also criticized President Barack Obama for spending $125 billion on his “energy and environment agenda” — money, Inhofe said, that could have been used to buy more than 1,000 F-35s, Defense News reported.

Hagel told the committee he had worked within the limits Congress set in its 2011 Budget Control Act and this year’s bipartisan budget accord.

Related Stories:

© 2014 Newsmax. All rights reserved.

 

Advertisements

Analysts: Putin Might Not Be All Wrong About Ukraine.


Vladimir Putin believes Russia’s troop movements in Ukraine’s Crimea region are sanctioned by a 1997 treaty that Moscow signed with Kiev, CIA director John Brennan told a senior lawmaker Monday, according to the Los Angeles Times.

The newspaper cited U.S. officials it didn’t name as the source of the information. The officials declined to identify the lawmaker, the Times said.

The treaty — which expires in 2042— requires that Russia coordinate military movements with Ukraine. Russia announced that Ukraine’s ousted — illegally in its view— President Viktor Yanukovych requested Moscow to send troops across the border, the BBC reported.

The Russian connection to the Crimea peninsula dates to the 1700s when Russia captured the territories from the Muslim Ottoman Empire. When Ukraine was part of the Soviet Union, Russia ceded the peninsula to the Ukrainian Soviet republic, according to the BBC. Soviet leader Nikita Khrushchev was half Ukrainian.

The ethnic majority in the region is now Russian. Toward the end of World War II, Stalin deported hundreds of thousands of Sunni Muslim Tatars from Crimea claiming they had collaborated with the Nazis.

Now, Russia points to a far-right element in the Ukrainian protest movement as having hijacked the campaign against Yanukovych. These forces have four posts in the new temporary government according to the BBC.

“The far right in Ukraine has now achieved the level of representation and influence that is unparalleled in Europe,” said University of Ottawa political scientist Ivan Katchanovski, according to The Daily Beast.

Meanwhile, veteran Russia watcher Stephen F. Cohen of Princeton and New York Universities writes in The Nation that while Moscow pursues many “repugnant” policies, coverage by the U.S. mainstream media basically denies Russia any legitimate interests “at home or abroad – even on its own borders, as in Ukraine.”

According to Cohen, the claim repeatedly made in the U.S. media that most Ukrainians long for integration into Europe is inaccurate. In fact, he wrote, the country is divided.

“There is not one Ukraine or one ‘Ukrainian people’ but at least two, generally situated in its Western and Eastern regions.”

Cohen said the media was also mistaken to discount Putin’s December 2013 offer to work with the West to save Ukraine’s economy.

Appearing on CNN on March 2, Cohen said Putin was not a thug, not out to recreate the Soviet Union, and “not even anti-American.”

Putin is behaving to protect what he sees as Russia’s vital interests, Cohen said.

Related Stories:

© 2014 Newsmax. All rights reserved.

By Elliot Jager

North Korea’s Kim Warned he Might Face Charges over Atrocities.


North Korean security chiefs and possibly even Supreme Leader Kim Jong-un himself should face international justice for ordering systematic torture, starvation and mass killings bordering on genocide, U.N. investigators said on Monday.

The investigators told Kim in a letter they were advising the United Nations to refer North Korea to the International Criminal Court (ICC), to ensure any culprits “including possibly yourself” were held accountable.

North Korea said it “categorically and totally” rejected the investigators’ report, which it called “a product of politicization of human rights on the part of EU and Japan in alliance with the U.S. hostile policy”.

The unprecedented public warning and rebuke to a ruling head of state by a U.N. Commission of Inquiry is likely to complicate efforts to persuade the isolated country to rein in its nuclear weapons program and belligerent confrontations with South Korea and the West.

The U.N. investigators said they had also told Kim’s main ally China that it might be “aiding and abetting crimes against humanity” by sending migrants and defectors back to North Korea, where they faced torture and execution – a charge that Chinese officials had rebutted.

As referral to the ICC is seen as a dim hope, given China’s likely veto of any such move by Western powers in the U.N. Security Council, thoughts are also turning to setting up some form of special tribunal on North Korea, diplomatic and U.N. sources told Reuters.

“We’ve collected all the testimony and can’t just stop and wait 10 years. The idea is to sustain work,” said one.

 

“REMINISCENT OF NAZI ATROCITIES”

Michael Kirby, chairman of the independent Commission of Inquiry, told Reuters the crimes the team had catalogued in a 372-page report were reminiscent of those committed by Nazis during World War Two.

“Some of them are strikingly similar,” he said.

“Testimony was given … in relation to the political prison camps of large numbers of people who were malnourished, who were effectively starved to death and then had to be disposed of in pots burned and then buried … It was the duty of other prisoners in the camps to dispose of them,” he said.

The independent investigators’ report, the size of a telephone directory, listing atrocities including murder, torture, rape, abductions, enslavement, starvation and executions.

“The gravity, scale and nature of these violations reveal a state that does not have any parallel in the contemporary world,” it said.

The findings came out of a year-long investigation involving public testimony by defectors, including former prison camp guards, at hearings in South Korea, Japan, Britain and the United States.

Defectors included Shin Dong-hyuk, who gave harrowing accounts of his life and escape from a prison camp. As a 13-year-old, he informed a prison guard of a plot by his mother and brother to escape and both were executed, according to a book on his life called “Escape from Camp 14”.

North Korea’s diplomatic mission in Geneva dismissed the findings shortly before they were made public. “We will continue to strongly respond to the end to any attempt of regime-change and pressure under the pretext of ‘human rights protection’,” it said a statement sent to Reuters.

 

“DELIBERATE STARVATION”

The abuses were mainly perpetrated by officials in structures that ultimately reported to Kim – state security, the Ministry of People’s Security, the army, the judiciary and Workers’ Party of Korea, according to the investigators, led by Kirby, a retired Australian chief justice.

“It is open to inference that the officials are, in some instances, acting under your personal control,” Kirby wrote in the three-page letter to Kim published as part of the report.

The team recommended targeted U.N. sanctions against civil officials and military commanders suspected of the worst crimes. It did not reveal any names, but said that it had compiled a database of suspects from evidence and testimony.

Pyongyang has used food as “a means of control over the population” and “deliberate starvation” to punish political and ordinary prisoners, according to the team of 12 investigators.

Pervasive state surveillance quashed all dissent. Christians were persecuted and women faced blatant discrimination. People were sent to prison camps without hope of release.

The investigators were not able to confirm allegations of “gruesome medical testing of biological and chemical weapons” on disabled people and political prisoners, but said they wanted to investigate further.

North Korea’s extermination of political prisoners over the past five decades might amount to genocide, the report said, although the legal definition of genocide normally refers to the killing of large parts of a national, ethnic or religious group.

North Korean migrants and defectors returned by China regularly faced torture, detention, summary execution and forced abortion, said the report.

Kirby warned China’s charge d’affaires in Geneva Wu Haitao in a Dec 16 letter that the forced repatriations might amount to “the aiding and abetting (of) crimes against humanity”, it said.

Wu, in a reply also published in the report, said that the fact that some of the illegal North Korean migrants regularly managed to get back into China after their return showed that the allegations of torture were not true.

“The DPRK (North Korea) has been looked at by the Security Council solely as a nuclear proliferation issue,” Julie de Rivero of campaign group Human Rights Watch told Reuters.

“This (report) is putting human rights in the DPRK on the map, which it wasn’t before, and hopefully will put the spotlight on the U.N. and international community to respond to not just the security threat,” she added.

© 2014 Thomson/Reuters. All rights reserved.
Source: Newsmax.com

Forbes: Child Euthanasia Proposals Akin to Nazi Eugenics.


Image: Forbes: Child Euthanasia Proposals Akin to Nazi Eugenics

By Melanie Batley

Moves in Belgium to allow euthanasia for children deemed to be afflicted with “constant and unbearable physical suffering” are akin to the practices of eugenics in Nazi Germany, former two-time GOP presidential candidate Steve Forbes says.

In an article for his magazine headlined “HitlerCare,” the chairman of Forbes Media says proposals to allow doctors, with parental consent, “to kill children” on the grounds of “compassion” will also be a “slippery slope” to other forms of unjustified killing, such as cost-saving calculations and determinations about the relative value of human life.

“We are on the malignantly slippery slope to becoming a society like that envisioned by Nazi Germany, one in which ‘undesirables’ are disposed of like used tissue,” Forbes writes in a piece posted online Monday. “While the Nazis carried this ideology of death to its ghastly logical conclusion, the belief that it would be good for the human race to improve itself — as breeders do with horses, dogs, cows and other animals and plants — was also widespread in numerous other countries before WWII, including the U.S.

“It was called eugenics, and under its banner countless hundreds of thousands of people, particularly those deemed mentally handicapped, were forcibly sterilized to prevent them from fathering or birthing children. Before the war Nazi Germany killed upwards of 8,000 children judged to be ‘mentally deficient’ or incurably ill.”

Forbes says that in countries that have legalized euthanasia, the number of adults euthanized has soared. He points out that in Holland, a country that allows adult euthanasia, it has been suspected that doctors and hospital administrators were occasionally killing patients to free-up hospital beds. Britain has its own version of a “death panel,” Forbes writes, because it has a formula for determining who gets expensive treatment and who doesn’t.

“And now we’re on the way to killing children in the name of compassion,” he adds. “As euthanasia becomes more accepted — and we become more numb to the horror of murdering people like this — we’ll descend to the next abomination: pressuring the sick to discontinue treatment for a likely fatal illness in the name of ‘saving scare resources’ for people who have more years ahead of them.”

Forbes concludes by saying, “Let’s be clear. We’re not talking about adults deciding they don’t want ‘heroic’ methods applied when they’re suffering a fatal illness; we’re talking about the conscious taking of a life by people who are trained to cure us of illness.

“The true mark of a civilization is in how it treats its most vulnerable members.”

Related stories:

© 2013 Newsmax. All rights reserved.

 

With History Against Her, Liz Cheney Ends Primary Bid.


As she makes her exit from the Wyoming Republican Senate primary official, Liz Cheney is citing illness in her family as the chief reason for ending her challenge to veteran Sen. Mike Enzi.

But also working strongly against the daughter of former Vice President Dick Cheney was history. Whatever the state, Republicans historically don’t like to dump their incumbent U.S. senators.

Since World War II, roughly 11 Republican senators have gone down to defeat in their own party primaries. In contrast, Democratic senators were given a thumbs-down by their own party more than three times that number.

For the most part, they include southern Democrats who were beaten when the primaries in their states were tantamount to election and, more recently, Democrats who did not follow the increasingly left-of-center line of party activists.

The small Republican fraternity of defeated incumbents ranges from Wisconsin’s venerable Sen. Robert La Follette Jr., who lost renomination in 1946 to a young Marine Corps veteran named Joe McCarthy; to Indiana’s six-term Sen. Dick Lugar, badly beaten in the 2012 primary by the more conservative state treasurer Richard Mourdock, who went on to lose in an upset to Democratic Rep. Joe Donnelly in November of that year.

McCarthy’s reputation as a fervent and controversial anti-Communist would come later. When he took on La Follette, McCarthy ran as an internationalist and backer of the United Nations who criticized La Follette’s isolationist record. He also trumpeted his youth and service in World War II and campaigned hard in black precincts as a fighter for civil rights.

But over the years, the rare Republican Senate challenger who was triumphant usually ran as a conservative in contrast with a more moderate incumbent. In 1968, California’s swashbuckling Superintendent of Public Instruction Max Rafferty defeated Senate GOP Whip and moderate Tom Kuchel on the same night Robert Kennedy won the Democratic presidential primary and was assassinated. Rafferty went on to lose against Democrat Alan Cranston.

New York’s Alfonse D’Amato beat veteran GOP Sen. Jacob Javits in New York’s primary in 1980 — and won in November — two years after conservative activist Jeff Bell defeated moderate Sen. Clifford Case in New Jersey. Bell lost in November.

In 2010, constitutional lawyer and stalwart conservative Mike Lee won a convention battle over three-term Republican Sen. Bob Bennett of Utah and serves in the Senate today. That same year, conservative Joe Miller ousted the more moderate Sen. Lisa Murkowski in Alaska’s Republican primary. But she came back to be re-elected as a write-in candidate.

But for all of the D’Amatos and Lees, there are several more examples of conservatives who could not make a strong enough case to unseat an incumbent senator.

In Connecticut, Prescott Bush Jr., brother of then-Vice President George Bush, finally quit a 1982 challenge to Sen. Lowell P. Weicker, outspoken liberal Republican. Two years later, conservative Rep. Tom Corcoran badly lost in the Illinois Republican primary to moderate Sen. Charles Percy. In 2010, former Rep. J.D. Hayworth could not make a case to Arizona Republicans that Sen. John McCain was not conservative enough. McCain won handily.

Most state and national Republican leaders are expected to breathe a sigh of relief at the news about the Wyoming race. As revered a figure as former Vice President Dick Cheney is in Wyoming, most of his fellow GOP activists ignored his daughter and sided with three-termer Enzi. They saw no difference between the two conservatives on any issue other than Liz Cheney wanted to be a senator.

Liz Cheney clearly had problems going into the race, notably the fact that she had lived in Northern Virginia most of her life before becoming a candidate. She obviously has personal reasons for ending her candidacy Monday. But she also had history against her.

John Gizzi is chief political columnist and White House correspondent for Newsmax.

© 2013 Newsmax. All rights reserved.
By John Gizzi

Rove: Remembering Those Who Died in 2013.


Memorializing some of the extraordinary men and women who died in the past year is a fitting way to embark upon the new year, writes Karl Rove in his first Wall Street Journal op-ed for 2014.
Rove, a veteran GOP strategist, mostly singles out those who pulled themselves up from humble beginnings to become champions of liberty, freedom, open-mindedness, and entrepreneurship.
In the international arena, Rove cites Britain’s Prime Minister Margaret Thatcher for reversing her country’s political and economic decline.
“Her leadership modernized and strengthened her nation. She stood up to militant unions, Argentina‘s military junta, IRA terrorism, and Soviet Communism.”
He then commends South Africa’s Nelson Mandela who served 26 years in prison yet emerged a supporter of reconciliation rather than vengeance.
He “cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities,” Rove said.
On home ground, Rove recalls Texans Bob Perry and Harold Simmons as self-made men who “never forgot that from those to whom much is given, much is required.”
Rove also memorializes four recipients of the Medal of Honor: Sgt. John Hawk and Master Sgt. Nicholas Oresko for World War II bravery; Cpl. Rodolfo Hernandez for fearlessness in the Korean War; and his valiant friend George “Bud” Day who fought in World War II, Korea, and Vietnam.
Tribute is also paid to Democrats who “worked across the aisle with Republican colleagues and presidents” despite being resolute partisans: Reps. Tom Foley, Ike Skelton, Lindy Boggs, and Bill Gray III. Rove also remembers New York Mayor Ed Koch as “a liberal who cut taxes and fought crime.”Finally, there was C.W. “Bill” Young who entered the House of Representatives in 1970 when there were only 29 GOP congressmen “from the Old Confederacy.” At his death in October, there were 103.

“A respected advocate of a strong national defense, he not only witnessed the South’s political makeover; he helped lead it.”

© 2013 Newsmax. All rights reserved.

By Elliot Jager

World Braces for Retirement Crisis.


A global retirement crisis is bearing down on workers of all ages.

Spawned years before the Great Recession and the 2008 financial meltdown, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching.

Many people will be forced to work well past the traditional retirement age of 65. Living standards will fall and poverty rates will rise for the elderly in wealthy countries that built safety nets for seniors after World War II. In developing countries, people’s rising expectations will be frustrated if governments can’t afford retirement systems to replace the tradition of children caring for aging parents.

The problems are emerging as the generation born after World War II moves into retirement.

“The first wave of under-prepared workers is going to try to go into retirement and will find they can’t afford to do so,” says Norman Dreger, a retirement specialist with the consulting firm Mercer in Frankfurt, Germany.

The crisis is a convergence of three factors:

— Countries are slashing retirement benefits and raising the age to start collecting them. These countries are awash in debt since the recession hit. And they face a demographics disaster as retirees live longer and falling birth rates mean there will be fewer workers to support them.

— Companies have eliminated traditional pension plans that guaranteed employees a monthly check in retirement.

— Individuals spent freely and failed to save before the recession and saw much of their wealth disappear once it hit.

Those factors have been documented individually. What is less appreciated is their combined ferocity and global scope.

“Most countries are not ready to meet what is sure to be one of the defining challenges of the 21st century,” the Center for Strategic and International Studies in Washington concludes.

Mikio Fukushima, who is 52 and lives in Tokyo, worries that he might need to move somewhere cheaper, maybe Malaysia, after age 70 to get by comfortably on income from his investments and a public pension of just $10,000 a year.

People like Fukushima who are fretting over their retirement prospects stand in contrast to many who are already retired. Many workers were recipients of generous corporate pensions and government benefits that had yet to be cut.

Jean-Pierre Bigand, 66, retired Sept. 1, in time to enjoy all the perks of a retirement system in France that’s now in peril. Bigand lives in the countryside outside the city of Rouen in Normandy. He has a second home in Provence. He’s just taken a vacation on Oleron Island off the Atlantic coast and is planning a five-week trip to Guadeloupe.

“Travel is our biggest expense,” he says.

UNDER SIEGE

The notion of extended, leisurely retirements is relatively new. Germany established the world’s first widely available state pension system in 1889. The United States introduced Social Security in 1935. In the prosperous years after World War II, governments expanded pensions. In addition, companies began to offer pensions that paid employees a guaranteed amount each month in retirement — so-called defined-benefit pensions.

The average age at which men could retire with full government pension benefits fell from 64.3 years in 1949 to 62.4 years in 1999 in the relatively wealthy countries that belong to the Organization for Economic Cooperation and Development.

“That was the Golden Age,” Mercer consultant Dreger says.

It would not last. As the 2000s dawned, governments — and companies — looked at actuarial tables and birth rates and realized they couldn’t afford the pensions they’d promised.

The average man in 30 countries the OECD surveyed will live 19 years after retirement. That’s up from 13 years in 1958, when many countries were devising their generous pension plans.

The OECD says the average retirement age would have to reach 66 or 67, from 63 now, to “maintain control of the cost of pensions” from longer lifespans.

Compounding the problem is that birth rates are falling just as the bulge of people born in developed countries after World War II retires.

Populations are aging rapidly as a result. The higher the percentage of older people, the harder it is for a country to finance its pension system because relatively fewer younger workers are paying taxes.

In response, governments are raising retirement ages and slashing benefits. In 30 high- and middle-income OECD countries, the average age at which men can collect full retirement benefits will rise to 64.6 in 2050, from 62.9 in 2010; for women, it will rise from 61.8 to 64.4

In the wealthy countries it studied, the OECD found that the pension reforms of the 2000s will cut retirement benefits by an average 20 percent.

Even France, where government pensions have long been generous, has begun modest reforms to reduce costs.

“France is a retirees’ paradise now,” says Richard Jackson, senior fellow at the CSIS. “You’re not going to want to retire there in 20 to 25 years.”

The fate of government pensions is important because they are the cornerstone of retirement income. Across the 34-country OECD, governments provide 59 percent of retiree income, on average.

THE FINANCIAL CRISIS MAKES THINGS WORSE

The outlook worsened once the global banking system went into a panic in 2008 and tipped the world into the worst recession since the 1930s.

Government budget deficits swelled in Europe and the United States. Tax revenue shrank, and governments pumped money into rescuing their banks and financing unemployment benefits. All that escalated pressure on governments to reduce spending on pensions.

The Great Recession threw tens of millions out of work worldwide. For others, pay stagnated, making it harder to save. Because government retirement benefits are based on lifetime earnings, they’ll now be lower. The Urban Institute, a Washington think tank, estimates that lost wages and pay raises will shrink the typical American worker’s income at age 70 by 4 percent — an average of $2,300 a year.

Leslie Lynch, 52, of Glastonbury, Conn., had $30,000 in her 401(k) retirement account when she lost her $65,000-a-year job last year at an insurance company. She’d worked there 28 years. She’s depleted her retirement savings trying to stay afloat.

“I don’t believe that I will ever retire now,” she says.

Many of those facing a financial squeeze in retirement can look to themselves for part of the blame. They spent many years before the Great Recession borrowing and spending instead of saving.

The National Institute on Retirement Security estimates that Americans are at least $6.8 trillion short of what they need to have saved for a comfortable retirement. For those 55 to 64, the shortfall comes to $113,000 per household.

THE ASIA CHALLENGE

In Asia, workers are facing a different retirement worry, a byproduct of their astonishing economic growth.

Traditionally, Chinese and Koreans could expect their grown children to care for them as they aged. But newly prosperous young people increasingly want to live on their own. They also are more likely to move to distant cities to take jobs, leaving parents behind. Countries like China and South Korea are at an “awkward” stage, Jackson says: The old ways are vanishing, but new systems of caring for the aged aren’t yet in place.

Yoo Tae-we, 47, a South Korean manager at a trading company that imports semiconductor components, doesn’t expect his son to support him as he and his siblings did their parents.

“We have to prepare for our own futures rather than depending on our children,” he says.

China pays generous pensions to civil servants and urban workers. They can retire early with full benefits — at 60 for men and 50 or 55 for women. Their pensions will prove to be a burden as China ages and each retiree is supported by contributions from fewer workers.

The elderly are rapidly becoming a bigger share of China’s population because of a policy begun in 1979 and only recently relaxed that limited couples to one child.

China is considering raising its retirement ages. But the government would likely meet resistance.

THE END OF TRADITIONAL PENSIONS

Corporations, too, are cutting pension costs by eliminating traditional defined-benefit plans. They don’t want to bear the cost of guaranteeing employees’ pensions. They’ve moved instead to so-called defined-contribution plans, such as 401(k)s, in the United States. These plans shift responsibility for saving to employees.

But people have proved terrible at taking advantage of these plans. They don’t always enroll. They don’t contribute enough. They dip into the accounts when they need money.

They also make bad investment choices — buying stocks when times are good and share prices are high and bailing when prices are low.

Several countries are trying to coax workers to save more.

Australia passed a law in 1993 that makes retirement savings mandatory. Employers must contribute the equivalent of 9.25 percent of workers’ wages to 401(k)-style retirement accounts.

In 2006, the United States encouraged companies to require employees to opt out of a 401(k) instead of choosing to opt in. That means workers start saving for retirement automatically if they make no decision.

EASING THE PAIN

Rebounding stock prices and a slow rise in housing prices are helping households recover their net worth. In the United States, retirement accounts hit a record $12.5 trillion the first three months of 2013.

But Boston College’s Center for Retirement Research says the recovery in housing and stock prices still leaves about 50 percent of American households at risk of being unable to maintain their standard of living in retirement.

When they look into the future, retirement experts see more changes in government pensions and longer careers than many workers had expected:

Cuts in government pension programs like Social Security will likely hit most retirees but will probably fall hardest on the wealthy

Those planning to work past 65 can take some comfort knowing they’ll be healthier, overall, than older workers in years past. They’ll also be doing jobs that aren’t as physically demanding. In addition, life expectancy at 65 now stretches well into the 80s for people in the 34 OECD countries — an increase of about five years since the late 1950s.

“My parents retired during the Golden Age of retirement,” says Mercer consultant Dreger, 37. “My dad, who is 72, retired at 57. That’s not going to happen to somebody in my generation.”

 

© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Source: Newsmax.com

Tag Cloud