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The clash of generations : saving ourselves, our kids, and our economy

Author: Laurence J Kotlikoff; Scott Burns
Publisher: Cambridge, MA : MIT Press, ©2012.
Edition/Format:   Print book : EnglishView all editions and formats
Database:WorldCat
Summary:
The United States is bankrupt, flat broke. Thanks to accounting that would make Enron blush, America's insolvency goes far beyond what our leaders are disclosing. The United States is a fiscal basket case, in worse shape than the notoriously bailed-out countries of Greece, Ireland, and others. How did this happen? In The Clash of Generations, experts Laurence Kotlikoff and Scott Burns document our six-decade,  Read more...
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Laurence J Kotlikoff; Scott Burns
ISBN: 9780262016728 0262016729 9780262526104 0262526107
OCLC Number: 756377545
Description: 275 p. ill. ; 25 cm.
Contents: Prologue : the last straw --
The United States is bankrupt --
Catastrophic success --
Living beyond our children's means --
Economic fallout --
Beatings without bruises --
Does it pay to grow up? --
The war on our children --
Unsafe at any speed --
Getting to yes --
There must be some way out of here --
Time to retire --
Becoming our own solution --
The power of ordinary living --
Conclusion --
the coming generational storm --
Bibliographical references --
Index.
Responsibility: Laurence J. Kotlikoff and Scott Burns.

Abstract:

The United States is bankrupt, flat broke. Thanks to accounting that would make Enron blush, America's insolvency goes far beyond what our leaders are disclosing. The United States is a fiscal basket case, in worse shape than the notoriously bailed-out countries of Greece, Ireland, and others. How did this happen? In The Clash of Generations, experts Laurence Kotlikoff and Scott Burns document our six-decade, off-balance-sheet, unsustainable financing scheme. They explain how we have balanced our longer lives on the backs of our (relatively few) children. At the same time, we've been on a consumption spree, saving and investing less than nothing. And that's not to mention the evisceration of the middle class and a financial system that has proven it can't be trusted. Kotlikoff and Burns outline grassroots strategies for saving ourselves--and especially our children--from what could be a truly catastrophic financial collapse. Kotlikoff and Burns sounded the alarm in their widely acclaimed The Coming Generational Storm, but politicians didn't listen. Now the need for action is even more urgent. It's up to us to demand radical reform of our tax system, our healthcare system, and our Social Security system, and to insist on better paths to investment return than those provided by Wall Street (mis)managers. Kotlikoff and Burns's "Purple Plans" (so called because they will appeal to both Republicans and Democrats) have been endorsed by a who's who of economists and offer a new way forward; and their revolutionary investment strategy for individuals replaces the idea of financial capital with "life decision capital." Of course, we won't be doing all this just for ourselves. We need to fix America's fiscal mess before our kids inherit it.

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"This is a truly important book, and I hope that it will be so widely read as to inspire a meaningful widespread dialog among individuals, families, and policymakers."--Geoff Considine, The Read more...

 
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