The SSA had been projecting a 15% increase as the first wave of baby boomers hit 62 and attributes the greater than forecast increase to workers being forced into retirement because of their inability to find new jobs.
We might have expected that the first wave of retirees from the nation's nearly 77 million baby boomers would pause to reflect on the world their parents inhabited.
Dent's confidence, as always, is based upon a simple demographic fact: The baby boomers born between 1946 and 1961 are hitting their peak spending years in a rolling wave ending around 2010.