It's Economic Security, Stupid

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In 1992 Democratic strategist James Carville summed up the presidential race between Bill Clinton and George Herbert Walker in four now very famous words: “It’s the economy, stupid.”

Here we are 18 years later, with a Democratic administration facing a critical mid-term election, and once again, “It’s the economy, stupid.”  Right?

Yes.  But with a critical difference.  Eighteen years ago, the country had just emerged from a mild recession and voters were anxious to get the economy back on track.  This year, we’re just two years removed from a near economic collapse, one that produced a near record drop in household wealth, and shook the hopes and economic confidence of almost every household in America.

Americans are not just worried about whether they will have a job next month; they’re concerned about their long-term economic future.  Falling real estate values and collapsing 401(k) balances have changed their economic aspirations.  Eighteen years ago, people wanted to maintain a rising standard of living.  Today, they want to maintain what they have or to recover what they have lost.  They want to have some confidence that they won’t have to continue working well past their retirement age.

Eighteen years ago, people believed that a rising tide would lift all boats.  Today, they know that in turbulent economic times some boats sink, even when the tide starts rising again.

What people long for in the aftermath of the Great Recession is not altogether different than what they longed for during the Great Depression: economic security.  They want some assurance that if they work hard and play by the rules that they will make it.

Right now, the political spotlight is on the Tea Party demonstrators and the federal deficit, but average Americans are more concerned about their personal solvency.

Polls show that people are more worried about their retirement security than other recession-induced hardships, including loss of a job.  In fact, one poll showed that three out of five people fear outliving their assets more than death itself.

To most of us, the only thing more frightening than the federal deficit is our personal retirement income deficit.  And here’s why.  The Retirement Income Deficit facing American households is enormous.  According to a study prepared by the Center for Retirement Research and released earlier this week by Retirement USA, the gap between what Americans have for retirement today and what they should have is $6.6. trillion! 

No wonder a majority of Americans vigorously oppose cuts in Social Security benefits.

Voters understand that their economic future, and not just their mortgage, is under water.  They just don’t know what to do about it.  And that’s where the political opportunity lies.  To rephrase James Carville’s slogan:  “It’s economic security, stupid.”  Voters want political leaders that can help to relieve their economic anxiety.  That’s why voters are receptive to candidates who want to lower the federal deficit, but it’s also why they would support candidates that advocate for a stronger, more reliable retirement system.

Our current patchwork system of employer-sponsored retirement plans is a disgrace. Half of all private sector workers are not even enrolled in an employer-sponsored retirement plan, and many of those who are enrolled in a plan have nothing more than a “do-it-yourself” 401(k).

We must develop a better retirement system, and not just for the benefit of future retirees.  Over the past half century, the savings generated by corporate pension plans helped to bankroll capital investment and propel economic expansion. Now, with pension coverage shrinking, we need to go back to the drawing boards.

Seventy five years ago, in the midst of the Great Depression, President Franklin Delano Roosevelt signed a bill creating a Social Security retirement system that has lifted millions of older Americans out of poverty.  Now, as we emerge from the Great Recession, we need a new 21st century retirement system, one that will work, along with Social Security, to boost retirement incomes and fuel future economic growth.

It’s not just the economy, stupid.  It’s economic security.


This blog entry was written by Robert Walker who formerly served as Legislative Counsel for AARP and presently is a consultant to the Pension Rights Center.


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History will note that manager Don Wakamatsu received his first major-league ejection an inning before his team rallied for three runs in the ninth for a stunning 4-3 win over the Toronto Blue Jays. griffeys 2012 Wakamatsu getting tossed, on the day of his 100th career victory, seemed to ignite a Seattle lineup that had spent much of the previous eight frames looking poised to lose for the sixth consecutive time. griffey shoes "In hindsight, it sparked us," said Mike Sweeney, who opened the ninth with a single off Toronto closer Kevin Gregg. "Wak is our captain, our leader. We told him after the game he was going to get a beer shower for getting tossed for the first time in his career." ken griffey shoes A crowd of 20,452 at Safeco Field, which seemed to consist mostly of Blue Jays fans for the first eight innings, roared to life in the at-bats that followed. Jose Lopez added a single to right after Sweeney, followed by a huge walk to Milton Bradley with the count full that loaded the bases. ken griffey jr shoes Casey Kotchman hit a ball grand-slam distance but pulled it several feet wide of the right-field foul pole. But he laid off some tough pitches and worked a walk that got the Mariners within a run. Cheap Griffeys Josh Bard then tied it with a sacrifice fly to left, and griffeys, pinch-hitting for Josh Wilson, roped a 2-1 pitch down the right-field line for the game-winning single. Griffeys For Womens It was an emotional moment for Griffey, batting just .183 when he came up and dogged by questions about whether he'll retire in-season. The Griffey saga has taken on a life of its own and dominated all talk surrounding a last-place team that had lost 15 of 18 coming in. Griffeys Sneakers "We're probably not going to go through a two-week period like this again," Sweeney said. "Considering how hard it's been and yet we've stayed so close together." The walkoff win was the first by the Mariners all season. They had 13 such victories last year."Michael Jordan, Carmelo Anthony To Appear At 'Obama Classic' Fundraiser The Obama campaign is bringing in NBA heavyweights Michael Jordan, Patrick Ewing, Alonzo Mourning and Carmelo Anthony to boost the president's fundraising efforts. nike heels A new campaign contest announced on Tuesday, dubbed the "Obama Classic," gives supporters a chance to win two tickets to attend an event featuring the basketball stars and jordan heels Its only caveat: Make a $3 donation to the campaign. Cheap Nike Heels It's a tactic the Obama campaign employed with great success when it ran a similar contest for a fundraiser at the home of actor George Clooney in May. nike high heels Supporters donated an average of $23 in hopes of winning a ticket to the event -- propelling the fundraiser's total haul to $15 million when coupled with the $40,000 individual tickets. jordan heels The campaign had originally planned a star-studded "Obama Classic Basketball Game" last year,nike heels for women but the event was postponed when a lockout resulted in a shortened NBA season. jordan high heels In 2008, small donors and celebrity endorsements helped Obama sweep his way into the White House. jordan heels for women This year, too, his campaign has drawn heavily on small donors and celebrity fundraisers from www.jordanheelsforgirls.comComparing LeBron James' Historic 2012 Season with Michael Jordan's 1992 Campaign Perhaps there is no greater compliment to LeBron James' 2012 season than the simple fact that his historic year is drawing comparisons to the magical 1992 campaign by His Airness, Michael Jordan. nike heels Within these seasons, both players captured an NBA MVP award, an NBA championship and an Olympic gold medal. Jordan heels 2012 To call these years special would be akin to calling Babe Ruth a solid hitter or Red Auerbach a good coach. nike high heels These were two of the most impressive seasons ever enjoyed on a basketball court. jordan heels Seemingly seconds after the Olympic gold was draped around James' neck, though,nike dunk heels the comparisons (er...arguments) commenced over which season was more impressive. jordan high heels Needless to say, this is a loaded argument with strong, opinionated voices coming from both sides. Nike Dunk SB Heels This in-depth comparison probably won't sway your opinion from one player to the other (more than likely, you already love or hate both of these megastars),nike sb high heels but it will allow for a closer examination of just what it was that these two accomplished at www.jordanheels2012sale.comFor aging superstars, end is rarely welcome "Bill Bradley, former New York Knicks star and later U.S. senator, wrote in his autobiography "Life on the Run" that a professional athlete "approaches the end of his playing days the way old people approach death. Behind all the years of practice and all the hours of glory waits that inexorable terror of living without the game." griffeys is hardly the first superstar to endeavor to stave off career mortality. In fact, it often turns melancholy for great athletes in their waning days. And for their fans, too, who must reconcile the desire to keep watching their heroes with the realization that the old guy is a dim facsimile of what made him a hero in the first place. griffeys 2012 Rarely, of course, is the dilemma framed quite as starkly as it was with Griffey this past week. Already flailing at the plate, Griffey was rocked by the published revelation that he had been sleeping during a recent game. The image almost instantaneously replaced Willie Mays stumbling in the outfield during the 1973 World Series as the new meme for an athlete hanging on beyond his time. Griffeys Shoes And now everyone waits and wonders what Griffey will do next: Stick it out, or hang it up? Each option has its virtues and its drawbacks. griffey shoes If Griffey keeps playing, fans get to continue absorbing the joy of Griffey's aura at the ballpark, which for many is enough. Any contribution at the plate is just a bonus. But there's also the pain of watching an athlete whose calling card was his exuberant yet effortless grace, when those qualities have been all but stifled by the ravages of time. ken griffey shoes If he quits, Griffey can leave before the sweet memories of his prime become more obscured by the current struggles. Yet the downside to that scenario is obvious: Once he walks away, there is no coming back. ken griffey jr shoes Aging boxers may keep un-retiring, as does the occasional athlete in other sports (Michael Jordan and Brett Favre jump to mind)."adidas Predator Lethal Zones TRX FG Adidas Soccer has unveiled the 12th version of one of the world’s most iconic soccer cleats, the Predator Lethal Zones. The new boots feature five lethal zones, each of which helps provide ultimate ball control. scarpe da calcio nike The five lethal zones include First Touch, Dribble, Sweet Spot, Drive and Pass. Each zone is composed of super-light rubber and memory foam with 3-D print strategically placed on the Predator upper to help provide improved ball control, handling and feel for increased precision and accuracy with every touch. scarpe da calcio adidas Located on the forefoot, the Touch Zone features recessed ribs to cushion and slow the ball on contact for instant control. The Dribble zone on the lateral side uses precisely spaced out rubber ribs to ensure optimum grip during high-speed dribbling and a large number of quick ball contacts. scarpe europei 2012 The Sweet Spot zone’s raised ribs on the medial side generate greater speed and spin for powerful shots and drives to the net. The Drive zone’s raised and thicker 3-D shape follows the natural shape of the instep to create a rebound effect making each pass travel further creating more space on the field. scarpe messi 2012 The Pass zone along the instep features a 3-D sticky print to provide more contact time between the ball and the foot for more precise passes and consistent kicks. Scarpe da calcio a basso costo Supporting the five lethal zones is a newly engineered HybridTouch upper which combines the benefits of leather and synthetic giving athletes comfort, lightweight stability, reduced water uptake and the highest quality feel in all weather conditions. Scarpe da calcio sulla linea Predator Lethal Zones integrates SPRINTFRAME technology featured in the adiZero F50, to provide lightweight support and at 7.9 ounces, the Predator Lethal Zones is the lightest version to date. nuovi adidas f50 adizero The Predator Lethal Zones is the first miCoach compatible Predator, helping players measure, view and share their stats. miCoach SPEED_CELL technology includes an advanced accelerometer that captures 360-degree movement and measures performance metrics during practice or gameplay. Scarpe Calcetto Indoor Nike The chip’s unique on-board memory stores up to seven hours of data, wirelessly syncs with the user’s smartphone and uploads performance stats that can be shared through social media. Scarpe Calcetto Nike5 For the new season, you can pick up these innovative adidas soccer cleats in two colorways at adiZero F50 Powered by miCoach Touted as the soccer boot with a brain, adidas is set to release the new adiZero F50 powered by adidas miCoach. Already one of the fastest cleats on the pitch, the F50 is now also the smartest. Scarpe da calcio adidas adiPURE The implementation of interactive miCoach technology has transformed the F50 into the ultimate digital training tool by letting you track and upload performance data including speed, max speed, number of sprints, distance, distance at high intensity levels and time. Scarpe da calcio adidas Copa Mundial Housed within the outsole unit is a cavity that secures the miCoach Speed Cell, which captures 360° movement and measures key performance metrics including speed, average speed (recorded every second), maximum speed (recorded every five seconds), number of sprints, distance, distance at high intensity levels, steps and stride rates. Scarpe Calcio Adidas F50 adizero On-board memory stores your measurements during games and/or training for up to seven hours before wirelessly transmitting the data to your tablet, PC or MAC. Scarpe da calcio Adidas Predator The information can be shared with your friends through social networking and can even be integrated into the upcoming adidas miCoach football video game. Scarpe da calcio Nike CTR360 adidas Vice President of Global Football, Markus Baumann said “We have been working to develop a boot with a brain for some time and what we have produced will revolutionize the football industry. Scarpe da calcio mercurial 2012 What makes the boot unique is that for the first time you will be able to compare yourself to some of the best players in the world”. Scarpe da calcio Nike T90 The adidas soccer cleats feature other key adidas technology, such as SprintWeb, SprintSkin, SprintFrame and a new stud layout that offers the perfect balance between lightweight and stability. At just 5.8 ounces, the boot is also the lightest in its class. 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