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GAO: Half of American Households Have No Retirement Savings

A recent study conducted by the Government Accountability Office found that roughly half of households age 55 and over have no retirement savings. Senator Bernie Sanders (I-VT) says that the study results are evidence that Social Security needs to be expanded. Some might disagree with the Senator, however.

Senator Graham’s Magical Napkin

Senator Lindsey Graham (R-SC) reportedly said, “You could [design a plan to fix Social Security] on the back of a napkin.” The author says that this statement is absurd and says the problems with Social Security are far more complex than what Graham’s statement would lead one to believe.