Although consumers have gained, producers are suffering grievously. The effects are spilling intofinancialmarkets, and couldyet depressconsumerconfidence.
Private pensions are different, but some economists think a smaller working population will tend to depress the value of financial assets and that will in turn affect pensions.
Do we cut federal spening and further depress any economy wrecked by financial wrongdoing on Wall Street and the shipment of millions of jobs overseas?