BTW, the government site listed below disputes my contention that SS + Medicare unfunded liabilities comes to $50 trillion. They describe it as "only" $20 trillion.
That's much better, of course. It's only $250,000 per household. A pittance. Not a problem for any of you, I'm sure, though I trust you will agree that there are conceivably SOME folks out there who will have to take a second job at the Quickee-Mart in order to pay their share.
But that's how small the government thinks this problem is.
Of course, there are some whackos out there who disagree. I guess I'm one - because I think the unfunded obligiations come to $50 trillion. And here's a professor who says it is actually $84 trillion. http://www.garynorth.com/public/department30.cfm
"The unfunded liability of the two programs is now about $84 trillion. See the table, based on a 2007 estimate -- before the recession -- made by Prof. Kent Smetters of the Wharton School of Finance at the University of Pennsylvania.
http://www.garynorth.com/SmettersTable--2007.gif
"
You-all will probably choose to believe your government over some silly professor. After all, government has a history of being an oustanding steward of our money and has never steered us wrong before.
Right?
| 