Scott Burns

Dallas Morning News columnist

WHEN: Thursday, June 10, 2004 Noon to 1:30 PM

WHERE: Federal Reserve Bank of Dallas 2200 N. Pearl Street, at Woodall Rogers, Dallas, Texas


The cost is $25 per person. A luncheon buffet will be provided. Space is limited.

Scott Burns, Dallas Morning News columnist, will speak at a Policy Forum sponsored by the National Center for Policy Analysis and the Federal Reserve Bank of Dallas on Thursday, June 10, 2004.

Mr. Burns will talk about his new book, "The Coming Generational Storm: What You Need to Know about America's Economic Future," co-authored with NCPA Senior Fellow Lawrence J. Kotlikoff (MIT Press, April 2, 2004).

In 2030, as 77 million baby boomers hobble into old age, there will be twice as many retirees as there are today but only 18 percent more workers. How will America handle this demographic overload? How will Social Security and Medicare function with fewer working taxpayers to support these programs? According to Laurence Kotlikoff and Scott Burns, if our government continues on the course it has set, we'll see skyrocketing tax rates, drastically lower retirement and health benefits, high inflation, a rapidly depreciating dollar, unemployment, and political instability.

There's also the "deficit delusion" of the under-reported national debt. None of this, they say, will be solved by any of the popularly touted remedies: cutting taxes, technological progress, immigration, foreign investment, or the elimination of wasteful government spending. So how can the United States avoid this demographic/fiscal collision? Kotlikoff and Burns propose bold new policies, including meaningful reforms of Social Security, and Medicare. Their proposals are simple, straightforward, and geared to attract support from both political parties. But just in case politicians won't take the political risk to chart a new direction, Kotlikoff and Burns also offer a "life jacket"-- guidelines for individuals to protect their financial health and retirement.

To attend, complete and fax the Printable Registration form no later than June 7, 2004 to the NCPA at 972-386-0924.

For more information, call the NCPA Development Department at 972-386-6272.