Yes, $104 TRILLION (give or take a couple of billion)! That is the amount of the unfunded liability of U.S. Social Security and Medicare.
LOL. good oneIs there any reason to believe that the US government will ever fail to
meet any of its financial obligations?
If the answer is no I guess that means the world would continue to
fund USs deficit spending.
If worse comes to worse the US can always default on its foreign
and social security.
I think the mostly likely outcome is that the world will
forgive most of the US debt.
I am not a teacher and I don't have the kind of pension and benefitsHeard that Teachers Pension Plan is $14 billion underfunded. Anybody surprised?
Up to 70 % of the pre-retirement income.I am not a teacher and I don't have the kind of pension and benefits
offered by government jobs. I suppose an Ontario teacher upon retirement
(and I have been told teachers could retire as early as 55)
is entitled to receive funds more or less equivalent to the
pre-retirement income for the rest of the retiree's life. If that is indeed how
it works who in their right mind would be surprised that the pension plan
however well executed its invesment strategy is
would over time turn into an unsustainable ponzi scheme.
I think that Ontario teachers also live forever. Some might spend more years collecting their pension than years earning it. BTW: Did you know that the life expectancy of an NFL football player is only 55?I suppose an Ontario teacher upon retirement
(and I have been told teachers could retire as early as 55)
is entitled to receive funds more or less equivalent to the
pre-retirement income for the rest of the retiree's life.
Makes you wonder whether the middle P of CPP is really Ponzi instead of Pension, eh?If that is indeed how it works who in their right mind would be surprised that the pension plan however well executed its invesment strategy is
would over time turn into an unsustainable ponzi scheme.
do you have a link to this information?Yes, $104 TRILLION (give or take a couple of billion)! That is the amount of the unfunded liability of U.S. Social Security and Medicare.
What is the term for a thousand trillion? I think we are going to need it soon.Yes, $104 TRILLION (give or take a couple of billion)! That is the amount of the unfunded liability of U.S. Social Security and Medicare.
It was reported on BNN who, I believe, was quoting a U.S. Federal Reserve official.do you have a link to this information?
Aren't most of Japan's debts owed to other Japanese?Debt to GDP ratio around 93% per cent in the US, UK, PIGS, far beyond that in Japan.
The unfunded liabilities is now $113 trillion.