Friday, February 04, 2005

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.


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