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The Coming Generational Storm: What You Need To Know About America's Economic Fu - Picture 1 of 1

The Coming Generational Storm : What You Need to Know about America's Economic Future by Scott Burns and Laurence J. Kotlikoff (2005, Trade Paperback)

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Product Information

How to avoid a fiscal crisis in the next generation -- and how to protect yourself if the government acts too late: policy recommendations and individual strategies to protect against skyrocketing tax rates, drastically reduced health and retirement benefits, high inflation, and a ruined currency. In 2030, as 77 million baby boomers hobble into old age, walkers will outnumber strollers; there will be twice as many retirees as there are today but only 18 percent more workers. How will America handle this demographic overload? How will Social Security and Medicare function with fewer working taxpayers to support these programs? According to Laurence Kotlikoff and Scott Burns, if our government continues on the course it has set, we'll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability. The government has lost its compass, say Kotlikoff and Burns, and the current administration is heading straight into the coming generational storm. But don't panic. To solve a problem you must first understand it. Kotlikoff and Burns take us on a guided tour of our generational imbalance, first introducing us to the baby boomers--their long retirement years and "the protracted delay in their departure to the next world." Then there's the "fiscal child abuse" that will double the taxes paid by the next generation. There's also the "deficit delusion" of the under-reported national debt. And none of this, they say, will be solved by any of the popularly touted remedies: cutting taxes, technological progress, immigration, foreign investment, or the elimination of wasteful government spending. So how can the United States avoid this demographic/fiscal collision? Kotlikoff and Burns propose bold new policies, including meaningful reforms of Social Security, and Medicare. Their proposals are simple, straightforward, and geared to attract support from both political parties. But just in case politicians won't take the political risk to chart a new direction, Kotlikoff and Burns also offer a "life jacket"--guidelines for individuals to protect their financial health and retirement. This paperback edition of The Coming Generational Storm has been revised and updated and includes a new foreword by the authors.

Product Identifiers

Publisher
MIT Press
ISBN-10
0262612089
ISBN-13
9780262612081
eBay Product ID (ePID)
44169030

Product Key Features

Book Title
Coming Generational Storm : What You Need to Know about America's Economic Future
Author
Scott Burns, Laurence J. Kotlikoff
Format
Trade Paperback
Language
English
Topic
Economic Conditions, Economics / General, Public Policy / Economic Policy, Personal Finance / General
Publication Year
2005
Genre
Business & Economics, Political Science
Number of Pages
328 Pages

Dimensions

Item Length
8.9in
Item Height
0.7in
Item Width
6.4in
Item Weight
14.9 Oz

Additional Product Features

Lc Classification Number
Hb3505.K68 2005
Grade from
College Graduate Student
Reviews
"Having painted a fiscal picture as awful as 'Guernica,' the authors unveil two bold plans....[An] engaging book." Todd G. Buchholz The Wall Street Journal, " The Coming Generational Storm ...lays out in easy-to-understand prose why Social Security and Medicare need a comprehensive overhaul." Gregory D. Hess Los Angeles Times, "This is a sobering look at an impending crisis with implications for all of us.Recommended for all collections." Stacey Marien LibraryJournal, This is a sobering look at an impending crisis with implications for all of us. Recommended for all collections., "The Coming Generational Stormlays out the problems in understandable language and compelling detail." - The Washington Post, Having painted a fiscal picture as awful as 'Guernica,' the authors unveil two bold plans...[An] engaging book., "This is a sobering look at an impending crisis with implications for all of us. Recommended for all collections." Stacey Marien Library Journal, "The policy solutions of Kotlikoff and Burns are specific and ingenious...." Michael Mandel Business Week, The Coming Generational Storm lays out the problems in understandable language and compelling detail., "... Filled with advice on protecting what you've got and making it grow before andduring retirement." Chris Tucker Dallas MorningNews, "...[A] serious attempt to look at a problem that most people are trying to ignore." Alan Beattie Financial Times, "... Filled with advice on protecting what you've got and making it grow before and during retirement." Chris Tucker Dallas Morning News, "...Filled with advice on protecting what you've got and making it grow before and during retirement." Chris Tucker Dallas Morning News, " The Coming Generational Storm lays out the problems inunderstandable language and compelling detail." The Washington Post, "...Filled with advice on protecting what you've got and making it grow before andduring retirement." Chris Tucker Dallas MorningNews, " The Coming Generational Storm lays out the problems in understandable language and compelling detail." The Washington Post, " The Coming Generational Storm ...lays out in easy-to-understandprose why Social Security and Medicare need a comprehensive overhaul." Gregory D. Hess Los Angeles Times, ...Filled with Advice on Protecting What You've Got and Making It Grow before and During Retirement., "The policy solutions of Kotlikoff and Burns are specific and ingenious..." Michael Mandel Business Week, "...Kotlikoff and Burns proffer plenty of evidence to back up their claims." Anne Wagner National Journal, "Having painted a fiscal picture as awful as 'Guernica,' the authors unveil two boldplans....[An] engaging book." Todd G. Buchholz The Wall StreetJournal, The Coming Generational Storm ...lays out in easy-to-understand prose why Social Security and Medicare need a comprehensive overhaul.
Copyright Date
2005
Target Audience
Trade
Lccn
2005-271344
Dewey Decimal
342.73085
Dewey Edition
22
Illustrated
Yes

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Most relevant reviews

4 out of 5 stars
by items956Mar 02, 2008
Great Book offering out of norm economic insights
The book does a great job outlining various economic failures that could happen if we continue down our current path. Stock market crashes, rapidly rising interest rates and inflation, and many other ways it could happen and crush our economic system. The writers offer strong opinions that usual proposals to "fix" Social Security and Medicare won't work. They offer thier own solutions which are intriguingly enough "out of the box" but commonly practical. One example includes eliminating any further accrual of Social Security benefits and instituting a 12% National Sales Tax to pay the benefits accrued to date. The current Social Security system would be replaced by personal retirement accounts that are invested by the Gov't (not the individual) in a single market-weighted global index fund.Read full review
1 out of 5 stars
by veXHpRQkSuS@Del...Apr 30, 2009
Boring
This book is informative but it drags on and on. He could have said everything once and then the book would have been only a few pages. But he beat everything to death and the book went on and on and on.

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