Boomergeddon : How Runaway Deficits and the Age Wave Will Bankrupt the Federal Government and Devastate Retirement for Baby Boomers Unless We Act Now

by Bacon, James A., Jr.

• ISBN13: 9781892538536
• ISBN10: 1892538539
• Format: Paperback
• Copyright: 2010-08-01
• Publisher: Midpoint Trade Books Inc

Summary

Driven by uncontrolled deficit spending, a mounting national debt and rising interest rates on that debt, the U.S. government will go into default within the next 20 to 30 years. The resulting crisis will change the political landscape beyond recognition. It will mean the end of American empire, and it will shred the retirement safety net for tens of millions of Boomers and the generations that follow. Boomergeddon details how runaway health care costs and a global shift from capital surplus to capital shortages will create a death spiral of mounting national debt, rising interest rates and soaring debt payments. The author also explains how partisan gridlock and the power of the entrenched political class in Washington, D.C., will thwart the painful changes needed to return the country to fiscal sustainability. The final chapters give Boomers a primer on how to survive Boomergeddon and, if they want to undertake the herculean task, how to avert it.