Yuma, Arizona - Many Americans still feel the repercussions of the 2007-2009 recession, but a pair of New York Times reporters say that for the most part senior citizens fared well in what some people call The Great Recession, reports the Association of Mature American Citizens.
In a recent article, reporters Dionne Searcey and Robert Gebeloff, wrote that "older people not only weathered the economic downturn ... but made significant gains."
According to their analysis: "In the past, the elderly were usually poorer than other age groups. Now, they are the last generation to widely enjoy a traditional pension, and are prime beneficiaries of a government safety net targeted at older Americans. They also have profited from the long rise in real estate prices that preceded the recession. As a result, more seniors now fall into the middle class - defined in this case between the 40th and 80th income percentile - than ever before."