Is there a correlation between the drop in unions and the drop in defined benefits plans? It certainly seems like it. As defined benefit plans are going away, so is the safety net for older Americans. Most bankruptcy filers are under age 54, but there is a steady rise in bankruptcies of people over age 55.
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Surely if Guthrie -- best known for "This Land Is Your Land," often considered America's alternative national anthem -- were alive today, he'd be writing songs about families fighting bank foreclosures, university students protesting tuition increases, workers organizing and people mobilizing for immigrants rights.
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