Thursday, July 31, 2014

U.S. Social Security 
Is In Worse Shape Than 
Detroit's Pension Funds!
Boston University economist Laurence Kotlikoff: "Social Security is insolvent .. And it’s not bankrupt in 30 years, or 20 years, or 10 years. It’s bankrupt today .. This is not my opinion. This is the only conclusion one can draw from Table IVB6 of the 2013 U.S. Social Security Trustee’s Report .. This table reports that Social Security has a $23 trillion fiscal gap measured over the infinite horizon .. Twenty-three trillion dollars is 32 percent of the present value, also measured over the infinite horizon, of Social Security’s future revenues. Hence, Social Security is 32% underfinanced, which means it is in significantly worse financial shape than Detroit’s two pension funds taken together."
LINK HERE to the article

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