Word: bulwarks
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Dates: during 1960-1960
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Meanwhile savings, the time-honored bulwark against the hazards of age, have shrunk in proportion to the demands of medical care. In the years when today's oldsters worked and saved, wages were relatively low. Inflation and the high costs of modern medicine and surgery have scrambled many a nest egg. In the past decade, medical costs for the aged have about doubled. Today the average couple over 65 spends $140 a year for medical care, or $700 if hospitalization is needed. But 57% of the aged have means of less than $1.000 a year, counting social security benefits...