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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (382830)5/6/2008 2:21:59 PM
From: i-node  Read Replies (2) of 1575244
 
>>> It's 3 trillion in the same way that Social Security is going to have a 4 trillion dollar deficit.

No, it isn't, not even remotely.

The accrued liability for "past service costs" for SSA is money owed today. If every employee subject to SS quit working today, SSA would still owe this money to beneficiaries who have earned it. Basic accounting requires that a liability be recorded for past service costs in the year the service is delivered (by the employee) because that is when the money is owed to the employee.

If the war stops tomorrow, the cost will have been a half trillion dollars. Only if the war continues for years into the future might the $3 Trillion figure be reached. It is obviously a figure that has been overblown in an effort to support the liberal view that protecting the United States from terrorism costs too much in dollars. There is no realistic basis for the figure, but it certainly is in no way analogous to the unrecorded/unfunded liability for SS.
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