AARP Foundation Senior Attorney Laurie McCann answers your questions about age discrimination. Join the conversation!
by Bill Novelli, September 29, 2008
Americans face a potentially historical economic crisis – one that threatens our jobs, homes, and the economic security of future generations. We are angry that we got stuck in this position, and rightfully so.
But if Congress fails to come together in a broad bipartisan manner to pass a solution, we will be in even worse shape. Our kids and grandkids will likely lose access to student loans – perhaps costing them the chance to go to college and meet their full potential.
Homeowners will likely see their home values plummet, and they can forget about moving or borrowing money to fix their current homes in order to stay there longer.
The retirement savings of millions of Americans – including those that did everything right to build up a solid nest egg – could be wiped away. People who prepared to live out their golden years independently may be forced to move in with their children or struggle to make ends meet.
Frankly, we don't know for certain what will happen in the long run if the current bipartisan economic rescue proposal passes. But we can be sure that the cost of doing nothing is just too high.
This is not about saving another Wall Street investment bank – it's about protecting the financial security of millions of people whose nest eggs are at risk if Washington does nothing.
Washington needs to act. Now.
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