When the forst babyrnboomer filed for Social Security in mid-October, chills must have coursed along Laurence Kotlikoff s spine. For years the Boston University economist, among others, has been warning of our pending financial crisis—the burden of Social Security and health care for our largest generation on the shoulders of a diminishing proportion of workers. "We're creating our own fiscal catastrophe," Kotlikoff said in 2004. At the same time, businesses have been desperate to contain rising health-care premiums. Three years later, Kotlikoff is still determinedly on message—and offers his own radical cure for the problem.
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