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| SENIORS AND THE GOVERNMENT
According to a new study from the National Center for Policy Analysis (NCPA), rapidly growing federal benefits for seniors are so generous they will soon provide recipients with a higher standard of living during retirement than they had when they were working. The study also notes that Medicare benefits will eclipse a person's Social Security benefits in just two decades.
- Social Security and Medicare alone replaces more than 85 percent of a person's total pre-retirement consumption for people retiring this year.
- For workers retiring in 20 years, Social Security and Medicare benefits will replace more than 105 percent of pre-retirement consumption.
- As a result, annual consumption for today's middle-age workers will be greater after retirement than before due to government benefits alone.
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