That means that by his view 9 persons out of 10 won't be able to retire. Which I actually believe is true.
The irony of admitting this while at the same time praising this system with statements like
>Part (by no means all) of the growth one sees abroad is due to acceptance and often positive attitudes about work, with less emphasis on "fairness".
What kind of growth are we seeing? Why should we have a positive attitude about work, when it's just a mean of transfering wealth upwards?
Edit: if you think that's not true, you live in a bubble. Try some of the jobs the majority of the population has to put up with, then we can talk again.
Edit: I read that as $90k total, to be dispensed over the remaining years. I agree that $90k per year indeed ought to be plenty.