The Social Security Trustees released a new report today on the state of the Social Security system. Some interesting numbers:
The report also shows the 75-year unfunded liability of Social Security increased from $3.7 trillion last year to $4.0 trillion today.
The present value unfunded liability over an infinite horizon increased by $700 billion from $10.4 trillion in 2004 to $11.1 trillion today.
I remain convinced that one cannot repeat the term 'unfunded liability,' too often in this debate.
"Move along! Nothing to see here, move along!"
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