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Politics : Mainstream Politics and Economics
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To: Wharf Rat who wrote (38380)2/3/2013 12:49:52 PM
From: i-node7 Recommendations  Read Replies (1) of 85487
 
>> You can't include future obligations without including future revenues.

This is the kind of ignorance I was referring to. "Unfunded obligation" DOES include future revenue. The unfunded obligation is what is still needed after future revenues are exhausted, discounted back to the report date. OTOH, you seem to have no problem at all with ignoring the matching concept when it comes to reporting current financial position.

In the case of SS, if you want to be able to pay the required benefits for the next 75 years and end up with zero assets in the trust, you would need to deposit $9,000,000,000,000 today, according to the trustees. If you wait until next year to make that deposit, the required amount will go up.

Had you studied the first chapter in Principles of Accounting you would know this, you couldn't possibly have missed it.
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