The Clash of Generations: Saving Ourselves Our Kids and Our Economy

About this book

How America went bankrupt and how we can save ourselvesas a country and as individualsfrom economic disaster. The United States is bankrupt flat broke. Thanks to accounting that would make Enron blush Americas 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? InThe 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 weve been on a consumption spree saving and investing less than nothing. And thats not to mention the evisceration of the middle class and a financial system that has proven it cant be trusted. Kotlikoff and Burns outline grassroots strategies for saving ourselvesand especially our childrenfrom what could be a truly catastrophic financial collapse. Kotlikoff and Burns sounded the alarm in their widely acclaimedThe Coming Generational Storm but politicians didnt listen. Now the need for action is even more urgent. Its 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 Burnss "Purple Plans" (so called because they will appeal to both Republicans and Democrats) have been endorsed by a whos 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 wont be doing all this just for ourselves. We need to fix Americas fiscal mess before our kids inherit it. https://www.youtube.com/watch?vIMKw76lBn0k&featureyoutubegdataplayer