Low Savings, Aging Boomers Challenge Economy

WASHINGTON -- Federal Reserve Chairman Ben Bernanke Thursday told lawmakers that fiscal issues facing the government as the Baby Boom generation ages and a low saving rate pose risks to the economy.

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"That's going to impose enormous challenges to our fiscal budget," Bernanke told the House Financial Services Committee in his second day of testimony on the health of the economy.

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"It's also going to pose enormous challenges to our economy as a whole because with fewer workers we need to have more capital, more savings, more preparation for the economy to be able to absorb a larger number of retired workers,

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