While America Aged: How Pension Debts Ruined General Motors,

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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
- Must read retirement book
While America Aged illuminates the scope of the problem weâ€™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 Cityâ€™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 donâ€™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 issueâ€”especially in our rapidly aging countryâ€”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.
Country USA
Manufacturer Penguin Press
Binding Hardcover
ItemPartNumber YES3408279
ReleaseDate 2008-05-01
UnitCount 2
EANs 9781594201677

Country	USA
Manufacturer	Penguin Press
Binding	Hardcover
ItemPartNumber	YES3408279
ReleaseDate	2008-05-01
UnitCount	2
EANs	9781594201677

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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