Breakdown of Gov. unfunded liability @ 60 trillions

First, what is unfunded liability?

Unfunded => money not there

Liability => promises to be paid by government programs

Say if government change SS retirement payout age from 62 to 72 (a.k.a. do away with SSI), it will dramatically reduce liability. Will they do that? very likely down the road.

So baby boomers count on SSI to have a comfortable retirement, think twice. New generatorations will just need to forget it.

p.s. next time, do research before using word "outlandish" or better yet look for english dictionary for the words like unfunded, liabilities.  LOL

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When the $61.6 trillion is broken down per household, that equals $534,000 — a figure “more than five times what Americans have borrowed for everything else,” according to USA Today. By program, it looks like this:

• Medicare: $24.8 trillion
• Social Security: $21.4 trillion
• Federal debt: $9.4 trillion
• Military retirement/disability benefits: $3.6 trillion
• Federal employee retirement benefits: $2 trillion
• State, local government obligations: $5.2 trillion

http://www.usatoday.com/news/washington/2011-06-06-us-owes-62-trillion-in-debt_n.htm

 

所有跟帖： 

• There will be absolutely NO "unfunded liability" -beachlver- ♂ (1229 bytes) () 04/04/2012 postreply 05:17:12

• Sigh, you do not even understand gov cash flow -天下多蚤- ♀ (232 bytes) () 04/04/2012 postreply 06:34:45

• Increase all the tax government can, -天下多蚤- ♀ (330 bytes) () 04/04/2012 postreply 06:42:23

• Now you finally get the point -beachlver- ♂ (585 bytes) () 04/04/2012 postreply 06:45:26