Excerpt: At least for the U.S. economy, the dire forecasts may be overstated. The ranks of boomers expecting to kick back and retire soon are shrinking fast. A lifetime of poor savings habits -- coupled with the devastating impact on retirement portfolios of two bear markets in eight years -- have convinced many boomers that they'll have to put in more time at the office. This should reduce the demands on Social Security and Medicare. 'People will work longer in general since it's the best way to get out their financial predicament,' says David Court, a director at McKinsey & Co.