Friday, June 14, 2013

SS Crashing

To really understand the crisis this program faces, the Trustees should be comparing the $55 billion in asset growth to the exploding growth in its unfunded obligations, which increased by $1 trillion during 2012. This also happened in 2011 when increased obligations of $2.1 trillion far outstripped the $69 billion increase in the program's Treasury security holdings.

The program's total unfunded obligations over the next 75 years has now grown to $9.6 trillion, more than one-half as large as the outstanding gross federal debt of $17 trillion.

In other words, this is how the politics of SS distorts what the SS reports say

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