Morning Must-Read: Stephen G. Cecchetti and Kermit L. Schoenholtz: Forecasting Trend Growth: Living with Uncertainty
Liveblogging World War II: February 24, 1945: Adolf Hitler: 25 Years of Naziism

Morning Must-Read: Nick Bunker: The Future of Retirement Savings

Can we finally all admit that even though the defined-benefit pension system was inadequate the 401(k) system is worse? And that we need not a smaller but a larger Social Security system?

Nick Bunker: The Future of Retirement Savings: "Devlin-Foltz... Henriques, and... Sabelhaus focus...

...on... participation.... The participation rate among working-age households... was close to 80 percent between 1989 and 2007. But... has dropped to... 75 percent.... [And] younger workers’ participation rate has fallen below the level of previous generations of young workers—today’s young workers aren’t saving as much younger workers in years past... [with] the biggest decline... among workers in the bottom half...