Allure Massage
Toronto Escorts

$104 Trillion

Rockslinger

Banned
Apr 24, 2005
32,783
0
0
:p 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.
 

oil&gas

Well-known member
Apr 16, 2002
12,225
1,622
113
Ghawar
Is 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.
 

red

you must be fk'n kid'g me
Nov 13, 2001
17,572
8
38
Is 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.
LOL. good one
 

jwmorrice

Gentleman by Profession
Jun 30, 2003
7,133
1
0
In the laboratory.
I guess the US could always consider raising taxes. Nah, too rational.

jwm
 

oil&gas

Well-known member
Apr 16, 2002
12,225
1,622
113
Ghawar
Heard that Teachers Pension Plan is $14 billion underfunded. Anybody surprised?:p
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.
 

shakenbake

Senior Turgid Member
Nov 13, 2003
7,598
1,627
113
Durham Region, Den of Iniquity
www.vafanculo.it
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.
Up to 70 % of the pre-retirement income.
 

Rockslinger

Banned
Apr 24, 2005
32,783
0
0
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.
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?
 

hinz

New member
Nov 27, 2006
5,672
1
0
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.
Makes you wonder whether the middle P of CPP is really Ponzi instead of Pension, eh? :rolleyes:

BTW, never understand why those pinkos and many Libertards are totally obsessed to super-size CPP. Are they trying to prove their fuzzly Math skills superior to anything those Banksters and Tories allies could dream of?
 

bob2613

Member
Jan 21, 2004
97
4
8
Current treasury auctions indicate any long term issues are being bought by the FED. Same in the UK. Bond market starting to implode with no long term return so all the money is going short term which is essentially cash. Starting to see long term debt in many places drying up which is why mortages are hard to get in many countries as after a 35 yr bond market things are reversing. US is currently failing to meet its financial obligations but its the reserve currency and has the ability to print money.

Japan is clearly dropping out as a long term Treasury buyer with rebuiilding needing to be done by a country essentially bankrupt.

Debt to GDP ratio around 93% per cent in the US, UK, PIGS, far beyond that in Japan. US could raise rates to attract investment but kill their economy and have no money to pay off the debt. Or continue to print and buy their own debt and destrory their currencey. Well into a catch 22 at this point.

USD is the reserve currency in a world undergoing many structural changes. If the UK and Holland is not going to forgive the few billion Iceland owe, i seriously doubt the world will forgive the trillions owed by the US.

Lot of literature out there by rogoff, niall ferguson etc
 
Toronto Escorts