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While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis

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While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis image
ISBN-10:

1594201676

ISBN-13:

9781594201677

Author(s): Lowenstein, Roger
Edition: 1st ptg.
Released: May 01, 2008
Publisher: Penguin Press
Format: Hardcover, 288 pages
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Description:

While America Aged illuminates the scope of the problem we’re facing, and warns that the worst is yet to come. With the narrative flair and talent for decoding financial ambiguities that readers have come to rely on, Lowenstein brilliantly chronicles three fascinating pension cases: the collapse of the over-obligated General Motors, the pension strike that halted New York City’s subways and effectively shut down the city, and the scandalous bankrupting of the affluent corner of Southern California, the city of San Diego. Not only compelling historical sagas rich with detail and unforgettable characters, each story also acts as an object lesson. Lowenstein warns that these pension wars are only the beginning of the retirement and healthcare crisis we will face if we don’t find ways to address this latest moral hazard. Governments and corporations across the country used pensions as a seemingly easy way to curry favor with unions (easy because the expense would be deferred until a later generation). But now, with cumulative retirement deficits approaching $1 trillion, the day of reckoning has arrived.

Is there a way out? Lowenstein recognizes that fixing pensions will be difficult but securing retirement is a critical issue—especially in our rapidly aging country—and he proposes a cogent solution to the impending crisis. Masterfully written and convincingly argued, While America Aged is a timely and crucial wake-up call to a pension damaged America.

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While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis image
While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis
Lowenstein, Roger
ISBN-13:9780143115380
While America Aged Lib/E image
While America Aged Lib/E
Lowenstein, Roger
Edition:Unabridged
ISBN-13:9780792755210
While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis image
While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis
Roger Lowenstein
Edition:Unabridged
ISBN-13:9781602834385

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