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Yes, Things are That Tough

Posted By Alejandra Owens On May 13, 2008 @ 9:35 am In Notebook | 1 Comment

New survey out today [1]that says boomers are feeling the pinch of the sluggish economy. 81% of Americans 45 plus say the economy is in fairly bad or very bad condition. Even more upsetting, one in ten is borrowing to pay everyday expenses and more than a third of them are helping their children pay bills.
For boomers (45-64) almost a quarter are prematurely taking money out of their 401(k)s and other investments. For those 65 plus, almost six out of 10 are having a harder time paying for food, gas and medicine.
This is tough news for the state of the economy. But it may be even tougher for politicians. Almost three-in-four (74%) say their elected officials are not doing enough to help people caught in the economic squeeze. Sounds like a warning to me.


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[1] New survey out today : http://news.yahoo.com/s/ap/20080513/ap_on_bi_ge/economy_survey_2

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