That is Trillion with a T. Ouch!
https://www.garynorth.com/public/17154.cfm
We see these figures, which are always arising, about what the government needs to do to make Social Security solvent. They never admit the unpleasant truth, namely, that the present value of the unfunded liabilities of Social Security and Medicare are in excess of $200 trillion. That’s not the future unfunded liability. That is the present value of the future unfunded liability. Prof. Laurence Kotlikoff of Boston University has been complaining about this for a decade. Congress of course pays no attention. Read the rest of this entry »
MCViewPoint 