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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (217083)2/3/2005 8:36:29 PM
From: TimF  Read Replies (1) of 1572260
 
That would mean that defense is technically insolvent as well.

There is a difference between obligations in a pension or insurance fund and anticipated future spending.

But then you might be surprised that I agree the whole "Social Security is bankrupt" theme has been overplayed. What is important is the fiscal state of the entire government. Social security and Medicare are a bigger part of government spending then defense and they have consistently grown, while defense has not. (In nominal dollars every major category of government spending grows, in real dollars defense growth isn't very consistent, it goes up and down, as a % of government spending or as a % of GDP defense has mostly been shrinking over the past several decades.)

Tim
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