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Boomergeddon How Runaway Deficits and the Age Wave Will Bankrupt the Federal Government and Devastate Retirement for Baby Boomers Unless We Act Now Paperback – August 1, 2010

4.4 out of 5 stars 13 customer reviews

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Editorial Reviews

About the Author

An award-winning business journalist, the author worked 16 years at Virginia Business magazine as editor and then publisher. He subsequently launched Bacon's Rebellion, a public policy newsletter and blog, and then joined the Boomer Project, a market research firm specializing in marketing to Baby Boomers. Now he contributes to Generational Advisor, a publication that provides generational perspectives to financial advisors.
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Product Details

  • Paperback: 340 pages
  • Publisher: Oaklea Press (August 20, 2010)
  • Language: English
  • ISBN-10: 1892538539
  • ISBN-13: 978-1892538536
  • Product Dimensions: 5.9 x 0.9 x 8.9 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (13 customer reviews)
  • Amazon Best Sellers Rank: #2,283,155 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback Verified Purchase
Don't be fooled by the author's occasional swipes at liberals. This book's no Tea Party screed, but its refreshing approach takes both the "elephant clan" and the "donkey clan" to the woodshed, and relentlessly.

Boomergeddon's analysis of what's gone haywire is lucid, appropriately gloomy, but leavened with humor and good sense. That's a rare gift for readers -- it makes what could be a numbing diatribe an easy and highly informative read. Check out the section titled "Sex, drugs and rocky road ice cream."

As for the author's proposed remedies...that's the beginning of an excellent conversation! One especially insightful chapter offers advice at the individual level, including the revolutionary but inarguable: stop buying so much stuff.

For fixes at the macro level -- government policy -- my long-time friend Jim has pulled together a truckload of solid research, and interpreted it compellingly. Buy this book, read it, take it seriously. Listen well to its critics. Then "give yourself a slap on your big, fat Boomer booty," as the author advises, and make some careful plans.
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Format: Paperback
"Boomergeddon" is a useful, breezy primer on the problems confronting the U.S. as its Baby Boomer population ages and face what the author believes to be a rising firestorm of government debt and entitlement programs that the nation can no longer afford.

The author, Jim Bacon, is a journalist with a libertarian point of view who has little use for government, swears by balanced budgets and has a bit of a Calvinist streak regarding personal responsibility. His book seems not at all intended to be the final verdict on the enormously negative scenarios that Bacon sees, but rather as an introduction to some difficult issues that people born right after World War II through the early 1960s will likely face as they become elderly.

In this role, the book is a benefit. Bacon is an excellent writer and breezes through coming demographic shifts and complex economic problems such as an overload of sovereign debt, an unworkable managed care health system, far too much government spending, and so on. In this sense, Bacon is performing a real service for the student of introductory current events since he lays out a number of issues in an easy-to-comprehend manner.

The book falls short for the same reasons. It appears to be hastily written with an eye to looming November elections (Republicans have suddenly discovered deficit spending after eight years of George W. Bush). Rather than going out and interviewing real people, Bacon instead relies too much on cut and paste articles. He does use an impressively wide variety of sources, but his discussion seems dominated by the viewpoints of conservative or libertarian outfits such as the Cato Institute.

More sophisticated readers will find some of his points obvious.
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Jim has done an extraordinary job of compiling and assimilating data relevant to our economic future and well-being. Some may be put off by his acknowledged "conservative" position but in reality he does a good job of cutting through or going above politics and ideology to examine immutable facts like the impact of interest rates or the result of different tax revenue assumptions. This is not an apology for any political point of view.

This is not a book to enjoy. But it is an extremely valuable read and resource for anyone who wants to have an informed conversation about viable economic and socio-economic policy. For example, if the reader is passionate about making health care available to all Americans, he or she must understand that there is cost, that it must be paid and have a credible strategy to do so. Or, if we consider ourselves rational and think that increased taxes is the answer or some form of austerity is the answer, we need to know what it is we are answering and the basis of that conviction. This book provides the data and resources to formulate or defend those positions.

Jim writes in a chatty, bloglike easy-to-read manner. The pain in reading the book is the enormity and complexity of the topic and the myriad issues to be incorporated into one's analysis but, like chemo-therapy must be endured to combat cancer, understanding the patterns of this informational quilt is essential to tackling the issues. Read it. It's worth it.
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Format: Paperback
This is an important work, essential reading for anyone with a future. Bacon lays it all out and explains why our ship of state is headed for an enormous iceberg of its own creation. He explains what we--the citizens--must do and have our representatives do to melt the iceberg of debt.

This is not some tedious, wonkish lecture. It is not a rehash of party lines. Bacon is fiercely independent and is unafraid to let all sides have it if they deserve it. Tapping his deep experience with the political classes and their machinations, and fortified by a bolus of skepticism, Bacon has poured over primary sources--the budget, OMB's statements and a trove of other documents--and made the case that government is completely out of control, is indisposed toward self-control, and that Boomergeddon is coming unless we act now.

It's chilling. It's delightfully written. It's absolutely fascinating. It will change the way you think about policy and politicians.
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