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Hello. This is the Cornblog. My people call it the Maize Blog.
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Scary Numbers on Social Security
Check out George F Will's column on the Social Security mess; some of the figures are insane:According to Laurence J. Kotlikoff of Boston University, the present value of the gap between promised outlays and projected revenues is $51 trillion -- more than four times the nation's annual GDP. Today the household wealth of Americans -- the value of their houses, 401(k)s, cars, refrigerators, toasters, socks, everything -- is about $42 trillion.This has been coming for a long time, but ... yeeps!
posted by DRH 3/04/2004 11:30:00 PM