, Columnist
How Middle-Class America Got Fleeced
Boomers and Gen Xers thought they had it made. But free markets, deregulation and financial errors cost them dearly.
Living with lowered expectations.
Photographer: Gilles Mingasson/Getty ImagesThis article is for subscribers only.
If you’re a middle-class American baby boomer or Gen Xer, you might have spent much of the past decade wondering what went wrong. If you’re a boomer, there’s a good chance you’re still working well after you thought you’d retire:
And if you’re part of Generation X, you’re probably less wealthy than your parents were at the same age. Meanwhile, all across the U.S., pension funds are underfunded and will almost certainly have to default on some of their obligations to retirees.