US Unfunded Liability
Some not-very-nice realities
Wall Street Journal, June 23, 2003, has a "Review & Outlook" piece on the "Opinion" page, entitled Bush's Medicare Gamble, with a chart with the following statements:
Promises, Promises |
Unfunded liabilities for retirees |
| Social Security: | $11.9 trillion |
| Medicare (without drug benefit): | $38.3 trillion |
| New Drug Benefit: | $7.5 trillion |
Sources: Social Security and Medicare Trustees/
Private Enterprise Research Center, Texas A&M University
If the US population grows to 300 million, the figures above would amount to $192,000 per capita (much more, per net taxpayer) -- and, that doesn't include other huge unfunded sums, from such as the federal & military pension systems, the pension benefit guarantee system (for failed private pension plans), etc.
With the US currently running some of the largest budget deficits in its history, is the possible scenario at Future Outlook so implausible?