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CNN's American Morning kindly gave me five minutes this morning to expound upon the retirement predicament of America's Baby Boomers, the oldest of whom will turn 65 tomorrow (see below). It provides a usual backdrop to my usual pontifications on the parlous condition of the public fisc.

If 2/3s of Boomers aren't financially prepared for retirement, as argued by the Center for Retirement Research, it will be exceedingly difficult for Congress to balance the budget by means of entitlement cuts.

Disclosure: No positions

Source: Can the Boomers Retire?