Tax Law - While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis

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

Name: 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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Book Synopsis: While America Aged illuminates the scope of the problem we’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 City’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 don’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 issue—especially in our rapidly aging country—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.

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Are you concerned about the state of retirement and pensions in America? Look no further than "While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis". This captivating book by renowned author Lowenstein sheds light on the pension crisis that is looming and warns that the worst is yet to come.

With Lowenstein's exceptional storytelling skills and ability to decode complex financial matters, he chronicles three gripping cases that demonstrate the gravity of the pension problem. From the downfall of General Motors due to excessive pension obligations, to the pension strike that left New York City paralyzed, and the scandalous bankrupting of affluent San Diego, these stories serve as powerful lessons about the consequences of unchecked pension debts.

Don't be fooled into thinking that these are isolated incidents. Lowenstein exposes how governments and corporations across the country have used pensions as a means to win favor with unions, without considering the long-term implications. Now, with retirement deficits nearing a staggering $1 trillion, the time for action is upon us.

So, is there a way out of this mess? Lowenstein recognizes the challenges but offers a cogent solution to secure retirement and address the impending crisis. His timely wake-up call serves as a crucial reminder of the urgent need for pension reform in America's aging society.

Take charge of your retirement and gain invaluable insights by getting your hands on "While America Aged". Don't wait for the next financial crisis to hit - act now and become informed. Visit our website for more information and to order your copy today.

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