Shawn Tully on MSNBC
Fortune contributor Shawn Tully was on MSNBC last night. He made a statement about Social Security that I cannot find confirmation for via Google. However, if it is accurate it is an amazingly insightful angle into the question of whether there is a Social Secuirty crisis. His statement, paraphrased, is:
To bring Social Security into ERISA compliance today the US government would have to contribute $11 Trillion.
That is a big number to fully fund America's safety net of pension plans. I think it highlights the greatest difference between the mindset of Washington and that of the rest of the country, or at lest the blogoshpere.
To bring Social Security into ERISA compliance today the US government would have to contribute $11 Trillion.
That is a big number to fully fund America's safety net of pension plans. I think it highlights the greatest difference between the mindset of Washington and that of the rest of the country, or at lest the blogoshpere.
posted by Publius at 2:12 PM
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