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Scott Burns' book 'The Coming Generational Storm'
Old 06-05-2004, 10:37 AM   #1
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Scott Burns' book 'The Coming Generational Storm'

I was just looking at the reviews of this book on Amazon.com and noticed that it's been endorsed by no fewer than four Nobel Laureates in Economics.

http://www.amazon.com/exec/obidos/tg...roduct-details


"I lie awake nights worrying about the fiscal crisis described in The Coming Generational Storm. This is by far the single most important problem in U.S. economic policy. Every American should read this fabulous book."
--George Akerlof, University of California, Berkeley, Nobel Laureate in Economic Sciences (2001)

"Among academic experts, Larry Kotlikoff has earned the title 'Mr. Generational Accounting.' His unfuzzy arithmetic decisively rebuts the Bush tax cuts, which are based on the delusion that 5 - 4 = 6, not 1. Read and judge for yourself the specter of our future: too many retirees dependent on too few working-age people. Fiscal imprudence now mandates broken promises later."
--Paul A. Samuelson, Massachusetts Institute of Technology, Nobel Laureate in Economic Sciences (1970)

"Between a rock and a hard place. We must all too soon realize that we want to spend more on transfers (Social Security, Medicare, Medicaid) than we are willing to pay in taxes. And the prospective $44 trillion shortfall is, almost literally, beyond ordinary comprehension. Documented diagnosis, along with suggested reforms, are first steps toward constructive dialogue."
--James M. Buchanan, Distinguished Professor Emeritus, George Mason University and Virginia Polytechnic Institute, Nobel Laureate in Economic Sciences (1986)

"The Coming Generational Storm is a well written summary of an impressive and important body of carefully documented research. The book demonstrates clearly the folly of existing tax and transfer policies in the face of the impending retirement of the baby boom generation. Anyone interested in the future economic viability of American society and the economic problems we are bequeathing to our children should read this study."
--James J. Heckman, The University of Chicago, Nobel Laureate in Economic Sciences (2000)



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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-05-2004, 01:14 PM   #2
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Re: Scott Burns' book 'The Coming Generational Sto

It's a couple bucks cheaper at overstock:

http://www.overstock.com/cgi-bin/d2....PROD_ID=691835
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 01:05 AM   #3
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Re: Scott Burns' book 'The Coming Generational Sto

I wonder if this storm will have any effect upon early retirees? That is other than increased taxes, and lower Social Security in 20 plus years. I don't really have significant influence with the politicians, so I can't do much about those.
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 03:54 AM   #4
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Re: Scott Burns' book 'The Coming Generational Sto

Quote:
I wonder if this storm *will have any effect upon early retirees? *That is other than increased taxes, and lower Social Security in 20 plus years. *I don't really have significant influence with the politicians, so I can't do much about those.
I'm assuming Social Security will be zero when I'm eligible to start collecting in 2018. If I get anything, I'll treat it like lottery winnings and splurg.

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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 05:20 AM   #5
 
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Re: Scott Burns' book 'The Coming Generational Sto

I've read a lot on this topic and most 'experts' and economists say that Social Security is fine for the forseeable future. It's Medicare that is the problem.
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 06:50 AM   #6
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Re: Scott Burns' book 'The Coming Generational Sto

Let's hope the book spark starts a national discourse. Although it an election year - I'm NOT hopeful.
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 07:47 AM   #7
 
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Re: Scott Burns' book 'The Coming Generational Sto

It will not start a National Discourse until some 'pain' is created.

This could be in the form of Higher Taxes, Reduced or sub-par benefits. Or a combination of the two.

What seems to be very popular today is cutting taxes and increasing spending and passing the problem on to future generations (i.e. Borrow and Spend).
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 08:10 AM   #8
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Re: Scott Burns' book 'The Coming Generational Sto

Welllll - heh, heh - when the frogs read that they're being slowly boiled - then perhaps the 'pain' will arrive.
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 09:00 AM   #9
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Re: Scott Burns' book 'The Coming Generational Sto

Don't worry, soylent green programs will be a response to the bankruptcy of social security, ensuring that the youth of today get SOMETHING for their money. Like a pound of flesh.
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 09:30 AM   #10
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Re: Scott Burns' book 'The Coming Generational Sto

Hey unclemick...I was just thinking about that boiled frog thing while reading the thread about people who dont realize the stress they're under until they get away from it for a few weeks or months.

Mmmm...soylent green...
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Re: Scott Burns' book 'The Coming Generational Sto
Old 06-06-2004, 11:13 AM   #11
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Re: Scott Burns' book 'The Coming Generational Sto

Assuming zero Social Security for planning purposes is probably safest, although I don't even want to think about what medical insurance premiums would be at age 80 without Medicare.
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