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

Average Rating 4.5
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  • Anonymous

    Posted August 6, 2004

    True and Scary at the Same Time

    I was on a financial website a while back and there was a link talking about this book. I will tell you this much it has made me do some soul searching regarding my own financial future, and now have to make some tough choices. I don't know. What started out as a good idea has turned into a nightmare that was created by those previously elected in power. I don't know if this situation can be totally fixed in my lifetime, but I can only offer my condolences to the future generations who will have to endure this unbearable yoke we as adults have created for our future generations. The authors of this text painted a grim picture, but offer some hope. We should recommend as a definite read to our congressman, but then we should only appoint financially responsible officials in office, and hold them accountable.

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  • Anonymous

    Posted March 19, 2004

    Bitter Pill

    You know its time for Social Security Reform when you start yelling at your mother. I proposed means testing and raising the retirement age, she said, 'That's not fair!'...and which point I found my self yelling, 'I pay into Social Security and I'm not going to get any of it, thats not --explitive deleted-- fair!' I have long felt that I could live without recieving Social Security -- it was just going to be a fact of life. But then Congress went and passed the Medicare prescription drug benefits bill and I am now filled with rage. The book has lots of formulas and explanations that boil down to 'young people today pay for old people today, there aren't going to be enough young people to pay for the old people of tomorrow.' It then delves into excrutiating detail to what extent the government has tried to cover this up. The authors then detail plans that they believe can fix Social Security that don't involve means testing or a raise in the retirement age. I'm not an economist, and so I'm not a good judge of this. I suspect that some of their ideas might be good to incorporate with raising the retirement age/means testing. What is really useful about this book is that at the end they give you practical advice about how to protect yourself. To my fellow 20 and 30 somethings...good luck. (I'd say start voting, but it doesn't seem like anyone is willing to address this issue. I wrote all my senators and congressmen begging them to reform the Med. prescription bill...and all I got back was self congradulatory letters for passing the bill as it is! Grumble.)

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