Running on Empty

"His writing is compact, unusually clear and accessible, logically consistent, and highly convincing."—Howard Marks, Los Angeles Times

"Level-headed . . . [Peterson writes] with precision and punch, Mr. Peterson . . . blames both parties for conniving against fiscal common sense, [but] he puts the present administration in a class of its own"—Christopher Caldwell, The New York Times

"Important . . . The real import of [Peterson's] argument is that even with growth, the financing of the current entitlement system will eventually have to be dramatically rebuilt—and that's a message that should be heard."—Michael J. Mandel, Business Week

"Lucid, powerful, and alarming . . . [By] the next presidential election [in 2008] the dire fiscal future that Peterson eloquently describes . . . will already have arrived."—Michael Mandelbaum, Newsday

"Running on Empty far exceeds the sum of its statistics and predictions. For Peterson's book poses a central moral question: How much should America spend on the 'past'— benefits for retirees—at the expense of the 'future'—a growing economy for unborn generations?"—The New York Post

"Today, too many of our country's key economic decisions are being made with an eye to the next election rather than to the next generation. This book explains in simple but powerful terms why it's imperative that our attention be refocused—now."—Warren E. Buffett, CEO, Berkshire Hathaway

"Peter Peterson's book Running on Empty provides a clear, concise, and unvarnished look at America's political and fiscal deterioration. Peterson's commonsense approach to reform, in order to take on the enormous challenges we face, is a refreshing tack which, sadly, is not often seen when it comes to America's economic situation. His observations about the social, economic, and international implications of our inaction are right on the mark. This book should be required reading for everyone involved in public policy and anyone who cares about America's future."—Senator John McCain

"Peter Peterson has performed a great national service with Running on Empty. No one knows better the costly consequences of record deficits for future generations. This is a wake-up call we cannot ignore."—Tom Brokaw, NBC News

"Peter Peterson articulates with clarity and force a common concern among many of us. Simply put, our fiscal profligacy and growing dependence on foreign savings cannot be sustained."—Paul Volcker, former chairman of the Federal Reserve

"This book is a clear, realistic, insightful, and compelling picture of America's fiscal and economic future. And, unlike most, this book actually proposes solutions. It deserves to be the intellectual foundation for a movement to put the fuel back in our tank."—former Senator Bob Kerrey

"[As Peter Peterson puts it]: 'I want to ask every American, young people especially: Is your future better off now than it was four years ago—now that you are saddled with these large new liabilities and the higher taxes that must eventually accompany them?' . . . If this isn't the election issue, I don't know what is."—Thomas L. Friedman, op-ed 2/1/04, The New York Times

"Peterson lays out in extraordinary detail how both major political parties have ignored the fiscal juggernaut that is bearing down upon us. His facts are irrefutable; his opinions grounded in those facts. It is a chilling story of what could be a fiscal disaster for this country that we all love."—former Senator Warren B. Rudman

"Running on Empty is a must-read for anyone who is concerned about the crushing fiscal burden we are amassing for our children and grandchildren, why our increasingly polarized political system makes the problem worse, and what we need to do to ensure a brighter future."—former Senator Sam Nunn