According to the text, today's older Americans are generally better off than generations preceding them. This is largely due to

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The text states that the reason for the improved financial situation of today's older Americans is largely due to Social Security pensions and Medicare health insurance. These government programs provide a safety net for older adults, ensuring they have a basic income and access to healthcare, which were not available to previous generations. While private investments may have contributed to some individuals' financial security, they are not the main reason for the overall improvement in the financial situation of older Americans. Welfare reform and women joining the labor force may have had some impact, but are not mentioned as the primary reason for the overall improvement.

According to the Text, Today's Older Americans Are Generally Better