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In Months, Retirees See Their Life Savings Depleted

In his address to Congress on Tuesday night, President Obama talked of a time when "American families will see their retirement secured once more. Slowly, but surely, confidence will return, and our economy will recover."

For now, though, retired Americans and people close to retirement age are seeing their savings depleted. This economy has sent their retirement accounts into a nose-dive.

We thought things were bad for retirees last year. But they've only gotten worse since then. We checked in again with Alicia Munnell, director of the Center for Retirement Research at Boston College.

This latest conversation began with a question about how much worse it is for retirees now.

This program aired on February 26, 2009. The audio for this program is not available.

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