Scary is right ... if you just sit down and consider the magnitude of the numbers alone.
I note a total for "unfunded" liabilities in lower right ... wonder just how they define "unfunded?" Recently I've noticed that even the WSJ calls Social Security an "unfunded" liability ... which I find odd since under "Payroll Taxes" they attribute nearly 40% of all federal revenue to said SSA and Medicare taxes collected.
Where is the logic in ignoring taxes collected specifically for a program as NOT counting toward funding?
Scary is right ... if you just sit down and consider the magnitude of the numbers alone.
ReplyDeleteI note a total for "unfunded" liabilities in lower right ... wonder just how they define "unfunded?" Recently I've noticed that even the WSJ calls Social Security an "unfunded" liability ... which I find odd since under "Payroll Taxes" they attribute nearly 40% of all federal revenue to said SSA and Medicare taxes collected.
Where is the logic in ignoring taxes collected specifically for a program as NOT counting toward funding?