That's not quite accurate ($45K-20K) - ~45K in '79 - the equivalent of ~$180- 200K now in salary. Regardless - we lowly peasants are getting screwed. They had actual pensions then too- you are lucky if you can get a matching funds 401K now. (Hidden fees not on your statements in 401Ks)
Plus now there is $4.4 Trillion on the feds balance sheets - how are they gonna make that up you think? What will happen to the value of money then?
Here's a red pill for ya. If inflation somehow manages to stay at the feds target rate of 2% - the value of money cuts in half every 22.5 years. (P=e^rt)
40 year old starts hammering his/her retirement. Saves a million dollars and retires at 62? Sorry fuckface - you really only saved $500K - thanks for playing…
Grrrr… DOITQ!!!
https://www.bls.gov/data/inflation_calculator.htm