While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial CrisisThe 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. |
Other editions - View all
While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC ... Roger Lowenstein No preview available - 2009 |
While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC ... Roger Lowenstein No preview available - 2009 |
Common terms and phrases
actuary agreed Aguirre American author interview auto bargaining become began benefits bill budget called cars city’s Collection companies Conger contract contributions corporate cost council deal Delphi demanded Detroit early elected employees ERISA executive expense federal final force Ford future GM’s Hall health care higher increase industry interest issue Kalikow labor later less manager mayor Miller million month Motors Murphy negotiations obligations offer officials once paid Party pension fund pension plan percent police political president problem promised proposed Quill raise rates retirement Reuther salary San Diego savings SDCERS seemed Shipione Social Security strike subway Toussaint transit trustees turned union vote wage Wagoner wanted workers York York City