While America Aged
Roger Lowenstein is the author of three previous books, which include Origins of the Crash: The Great Bubble and Its Undoing. Mr. Lowenstein was a reporter and columnist for The Wall Street Journal for over ten years and is currently a contributor to several publications, including SmartMoney and The New York Times Magazine.
Roger Lowenstein talked about his book While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis, published by Penguin Press. In his book he argues that pensions due in the near future will hurt the American economy. Mr. Lowenstein profiles corporations and governments, including General Motors and the city of San Diego, who made concessions to secure union support that involved unrealistic pensions that and deferred expenses to a future generation. Mr. Lowenstein argues that Congress should regulate 401K’s to avoid a problem in the future and relays that currently cumulative retirement deficits are approaching one trillion dollars. He responded to questions from members of the audience.
Roger Lowenstein is the author of three previous books, which include Origins of the Crash: The Great Bubble and Its Undoing. Mr. Lowenstein was a reporter and columnist for The Wall Street Journal for over ten years and is currently a contributor to several publications, including SmartMoney and The New York Times Magazine. close
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