RETIREMENT . . . REICH SAYS PIGGY BANKS HALF EMPTY

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Taking the bully pulpit anew after a recent speech -- not approved by the White House -- on "corporate welfare," Labor Secretary Robert Reich today warned that many Americans aren't saving enough to maintain their living standard when they retire. "Today's workers will need unprecedented levels of savings to maintain their living standards during those retirement years," Reich told a Senate Finance subcommittee. "But since workers are now earning less and saving less, they'll have less -- especially if retirement itself grows longer." The best solution, he argued, was for employers to increase wages so their workers have enough left over to save after paying for essentials. How to make that happen went unaddressed.