More confirmation that retiring baby boomers will not (repeat, will not) cause a drag on the economy. One question debated over and over is whether or not the boomer stock and bond sell-off will crash the market. According to the Congressional Budget Office, the answer is no.
As reported by The Street‘s Joe Mont, Marika Santoro of the CBO’s macroeconomic analysis division challenges warnings from some economists who expect security prices to fall dramatically as boomers sell assets to finance retirement. The CBO report calls the dire prediction “unlikely.”