The press and others continue to use the standard excuses to explain the state of things.
My current favorite remains the excuse that Americans are forced to merely survive on Social Security because their savings were wiped out in the Great Recession.
To claim a person was wiped out in 2009 is to say they moved all their investments out of the market at the low point thereby locking in their losses unnecessarily.
Americans who were poor their entire lives, will be poor in retirement as well. And yes, in 2009 some Americans who were over extended with debt, who had no emergency funds, who lost their income had to start over.
However, to claim that the ups and downs of the stock market is the cause of workers living on Social Security in retirement is highly inaccurate.