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Library Journal Review

The aging of the population, increasing poverty, declining educational standards, and massive budget deficits have contributed to a looming social crisis in which the support of the elderly is becoming too costly for today's younger workers to bear. The large number of baby boomers who'll retire early in the next century may find themselves destitute. Longman offers sensible alternatives to intergenerational inequality, including a national health care system, an educational system aimed at increased productivity, and restructuring tax and entitlement programs to promote long-term savings. He presents a reasonable, dispassionate analysis of the highly charged issue of group responsibility and the care of the aged. Highly recommended for public policy collections. Karl Helicher, Wolfsohn Memorial Lib., King of Prussia, Pa. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

Publishers Weekly Review

Longman here analyzes the American economy in terms of entitlement programs for the old (Social Security, Medicare, etc.), which are paid for by the young. As the baby-boom generation marches toward retirement, and as human longevity increases every year, it will be impossible to sustain current benefits, the author warns. He poses related dilemmas: Will a higher rate of personal savings fight inflation or bring on recession? Is a ``Buy Now'' (on credit) outlook better than old-time thrift morality? Does immigration add capital or drain income? Regardless of the answers, he notes, the pension tab awaits payment. Although Longman seems to touch all bases, his assumptive certitudes about the future are potentially flawed, like Jefferson's agricultural millennium (to every man a farm) or the prophecies heard since World War II of another Great Depression. Longman is a consultant to AGE, a Washington, D.C., lobby group. (August 28) (c) Copyright PWxyz, LLC. All rights reserved

CHOICE Review

Longman's popularly written book argues that the members of the baby-boom generation, now in their 40s, face disaster as they approach retirement. Social security pensions and Medicare benefits depend on the currently employed population providing support for the retired population. Baby boomers, however, by having fewer children and living longer, will be drawing on the financial support of a much smaller group of younger persons. Whereas today five workers support each retiree, by the turn of the century that ratio will be cut in half. Rather than saving and investing to increase productivity and ease the task of future generations in providing support, the baby boomers are spending, with a resultant explosion of public and private debt. This inequitably allocates too large a share of society's resources to the old, rather than the young. The solution is to increase fertility and immigration and encourage greater thrift. Each generation has an interest in raising large numbers of prosperous, well-educated children, but the burdens involved in doing this fall on young mothers, who should be better assisted and rewarded. Longman presents this argument well, drawing on wide-ranging sources in a way that sometimes digresses from his main arguments. Opposing arguments are skimmed over lightly. Worth including in a collection as a clear statement of the position that our present system promotes intergenerational inequity.-E. Feingold, University of Michigan

Booklist Review

Longman challenges the current systems that fund the needs of the elderly (Medicare, Social Security, etc.), stating that too great a proportion of the income of the working generation is being channeled into a system that will have inadequate funding by the time the Baby Boomers reach retirement. This study of intergenerational inequity will undoubtedly rouse many critics, who will quarrel with the author's figures and predictions. Still, Longman's evaluation of the housing market, government pension and health-care programs, the spendthrift nature of modern society, and other vital issues provides considerable food for thought. Not content with sowing seeds of discord or outright panic, the author supplies constructive corrections for this potentially disastrous situation, e.g., a national health-care program; a method of prepaid retirement expenses; population increases via increased fertility or immigration; and an attention to thrift designed to rebuild American industry. Notes; to be indexed. DPD. 362.6'0973 Aged Government policy U.S. / Intergenerational relations Economic aspects U.S. / Social security U.S. [OCLC] 87-3926