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America, Welcome to the Poorhouse: What You Must Do to Protect Your Financial Future and the Reform We Need by Jane White

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IntroductionAre You Better Off Than You Were as a Kid?

The nationally broadcast debate in 1980 between President Jimmy Carter and would-be President Ronald Reagan was summed up in 10 short words: “Are you better off than you were four years ago?”

For Carter, the situation was dire. Iranian radicals had held 52 American hostages for nearly a year. The economy had nose-dived while inflation skyrocketed. Nothing Carter said could counter Reagan’s rhetorical question. It was Reagan’s debate and a week later it was Reagan’s election.

Today if you ask yourself, “Am I better off than I was growing up?” the answer may very well be no. This time it’s not a war or hyperinflation that’s threatening America (although we’re still paying through ...

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