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

By Roger Lowenstein

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Penguin, April 2009

Finance & Investing > Finance

eBook release: April 2009

ISBN: 9781440639401

Language: English

Download options: Adobe DRM EPUB

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Synopsis

The retirement crisis facing America-and the road map for a way out-from The New York Times bestselling author of Origins of the Crash

In the last several decades, corporations and local governments made ruinous pension and healthcare promises to American workers. With these now coming due, they threaten to destroy twenty-first- century America's hopes for a comfortable retirement. With his trademark narrative panache, bestselling author Roger Lowenstein analyzes three fascinating case studies-General Motors, the New York City subway system, and the city of San Diego-each an object lesson and a compelling historical saga that illuminates how the pension crisis developed. Cumulative retirement deficits are approaching $1 trillion, and Lowenstein warns that these are only the first. Retirement pensions will continue to be a critical issue as the country ages, and While America Aged is the urgent call to action and prescription for reform.

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