Nicholas Eberstadt and Michael Hodin: It’s time to “rethink retirement.”
It’s a great idea to raise the retirement age and keep people working longer, now that 60 is the new 50 and 70 is the new 60. It won’t be much longer before 80 is the new 70, too.
The problem is, we need an economy dynamic enough to accommodate older workers staying in the system longer while still creating enough jobs to accommodate younger workers coming into the system. And under the Wiggleroom Administration, youth unemployment is at highs not seen since the brief 1981 recession — but it’s been that way for years and with zero relief in sight.
Young people have no clue yet how badly they screwed themselves in 2012, but maybe a few more years in Mom & Dad’s basement will clear things up for them.