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Politics : The Castle -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (607)	11/19/2002 6:40:50 PM
From: MSI	Respond to of 7936

Private insurance is regulated by common sense and federal and state legislation, and requires accountability for the basics, including well-proven actuarial calculations for future liability, and purchase of reinsurance where necessary. I.e., they do not operate in an "unfunded liability" fashion. As far as your WAG, that's obviously an unacceptable way to run the government. But it's essentially what's happening.

To: Joe NYC who wrote (607)	11/19/2002 7:02:26 PM
From: i-node	Respond to of 7936

My WAG is that the amount is in $100s billions, rather than $10s trillions of the pension portion. I'd say your WAG is in the ballpark; at any rate, it is almost without consequence compared to the unfunded pension liability.