Even as Connecticut continues to implement public health measures to "flatten the Covid-19 curve" and to safeguard private sector jobs, it is by no means premature to give attention to strengthening programs for economic recovery and family income security in the post-virus period.
One of the key problems of economic inequality in the United States is that many hard-working Americans retire with little or no financial savings other than Social Security and therefore are often unable to meet their minimum household needs.
According to data cited by The Economist, as much as 40 percent of working age Americans have no retirement-account savings, causing America's rate of old-age poverty to be among the highest in the developed world. Reviewing economic trends for the past decade, The New York Times, citing Federal Reserve data, reported that "retirement wealth has accumulated almost exclusively among higher-income households, while middle- and lower-income households have only held steady or lost ground."
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