Cagey dishonesty.
You absolutely can calculate the Social Security obligation.
Everyone who pays in has an account as of this moment, and a current rate of payout over their actuarial lifespan with a defined calculable amount.
Insurance companies are required by law to calcuate these numbers rigorously and often to measure their financial health.
Government officials and their apologists are simply lying to avoid accountability. Not even a very good lie, but politically useful.
some economists argue that we should include in federal debt the implicit debt from the government's commitment to pay future benefits such as Social Security. If we do so, shouldn't we add assets in the form of the present value of future taxes that might be received? In principle, they are both relevant, but there is a strong argument that in view of the uncertain amounts to be projected for taxes and payments over many decades, it would be better to exclude them from our measures of the debt
Tax revenues can only be estimated, but obligations such as Soc Security can be calculated, and must be for an honest accounting.
It's unlikely this crowd in Washington is even slightly interested in accountability, if they can continue to hoodwink the media talking heads, and the public. |
