The Center for Retirement Research at Boston University has published a report asking "Is There Really a Retirement Savings Crisis?"
The short answer is yes.
In 1992 20% of the people aged 51 to 61 were at risk of facing a declining standard of living when they retired. Today 32% of the people that age are at risk.
35% of the Baby Boomers born between 1946 and 1954 are at risk. 44% of the Baby Boomers born between 1954 and 1964 are at risk.
49% of the Gen-Xer's born between 1964 and 1972 are at risk.
If you were born after 1972 . . . well, without saying so, because he's still trying to recruit you to fight his wars and pay taxes to brake your elder's slide into poverty, Uncle Sam's making it clear that you're on your own.