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

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

by Laurence J. Kotlikoff, Scott Burns
     
 

This paperback edition of The Coming Generational Storm has been revised and updated and includes a new foreword by the authors. 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

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Overview

This paperback edition of The Coming Generational Storm has been revised and updated and includes a new foreword by the authors. 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.

The MIT Press

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Product Details

ISBN-13:
9780262612081
Publisher:
MIT Press
Publication date:
01/19/2005
Pages:
302
Sales rank:
367,186
Product dimensions:
6.00(w) x 9.00(h) x 0.75(d)
Age Range:
18 Years

Meet the Author

Laurence J. Kotlikoff, one of the nation's leading experts on fiscal policy,national saving, and personal finance and a columnist for Bloomberg, is Professor of Economics at Boston University. His writings and views appear in Forbes, the Economist, the Financial Times, the Wall Street Journal, the New York Times, and other leading media outlets.

Scott Burns's personal finance column has been nationally syndicated since 1981.

Table of Contents

Acknowledgments
Prologue
1From Stollers to Walkers1
2Truth Is Worse Than Fiction41
3Driving in LA with a Map of New York73
4Popular Tonics, Snake Oils, and Other Easy Fixes87
5Going Critical121
6Changing Course143
7Grab Your Life Jacket173
8Securing Your Future193
Epilogue243
Notes249
Index261

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