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A sobering perspective on a looming retirement crisis A new book, Falling Short: The Coming Retirement Crisis and What to Do About It," claims that the U.S. is likely to face a retirement crisis in the future, according to an article in The New York Times. Written by Alicia Munnell, the director of the Center for Retirement Research at Boston College, with Andrew Eschtruth, a colleague at the Center, and Charles Ellis, a consultant and author, the book says that the looming crisis can be blamed not only on federal lawmakers' inaction but also on people's poor retirement saving behavior and decisions. The article says that if the U.S. fails to find a politically palatable mechanism to help improve these personal choices and ensure that they are made more intelligently than in the past, no amount of tinkering with Social Security will avert the coming crisis. --The New York Times
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