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Coming Generational Storm : What You Need to Know about America's Economic Future

Coming Generational Storm : What You Need to Know about America's Economic Future - 04 edition

ISBN13: 978-0262612081

Cover of Coming Generational Storm : What You Need to Know about America
ISBN13: 978-0262612081
ISBN10: 0262612089
Cover type:
Edition/Copyright: 04
Publisher: MIT Press
Published: 2004
International: No

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Coming Generational Storm : What You Need to Know about America's Economic Future - 04 edition

ISBN13: 978-0262612081

Laurence J. Kotlikoff and Scott Burns

ISBN13: 978-0262612081
ISBN10: 0262612089
Cover type:
Edition/Copyright: 04
Publisher: MIT Press

Published: 2004
International: No
Summary

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 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 Bush administration's spending and tax policies have charted a course straight into the coming generational storm.

Kotlikoff and Burns take us on a guided tour of our generational imbalance: 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. Kotlikoff and Burns propose bold new policies, including meaningful reforms of Social Security and Medicare, that are simple, straightforward, and geared to attract support from both political parties.

Table of Contents

1. From Strollers to Walkers
Sample Chapter - Download PDF (154 KB)
2. Truth is Worse Than Fiction
3. Driving in LA with a Map of New York
4. Popular Tonics, Snake Oils, and Other Easy Fixes
5. Going Critical
6. Changing Course
7. Grab Your Life Jacket
8. Securing Your Future
Epilogue
Notes
Index

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