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  • Pension Underfunding: The Next Earnings Shock? [View article]
    There are several things that are unfunded, corporate pensions, state pensions, federal pensions, federal medicial benefite (MediCare, MedIcaid, and the drug plan. There is also social security, whcih is unfunded.

    Social Security, as we know it.

    Current opinion of social security by the public and media is in 2016 when social security collections are not enough to make payments, the Social Security Trust Fund will provide the difference until 2041, when some new money will be needed.

    My reading of a 100 page pamphlet on social security from the American Institute for Economic Research in Great Barrington, MA, causes me to change my opinion of the solvency of social security.

    I think public opinion believes a myth and there is nothing of value in the Old Age and Survivors Insurance Trust Fund (OASI) other than government IOUs. That means beginning in 2017; the USA must tax or borrow money to make some social security payments in 2017, sounds like bad news to me.

    viel gluck to all,
    Mar 08 20:56 pm |Rating: 0 0 |Link to Comment
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