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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (613914)	5/31/2011 2:30:53 PM
From: i-node	Read Replies (1) \| Respond to of 1578652

>> Your definition was wrong doofus...the unfunded liability and the present value of the unfunded liability are two different things and two different numbers...both subject to assumptions, projections, timelines...etc... Once again, you do not know what you're talking about. The amount stated as "unfunded liability" is DEFINED to the be the present value -- that is, the amount of money you would have to have TODAY to grow into enough money to meet the obligations. The figures in this report come from two publications: The 2009 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (2009 Social Security Trustees' Report) and The 2009 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds (2009 Medicare Trustees' Report). Figures are presented as the net present value (NPV) of future deficits, which compares the value of a dollar today to the value of a dollar in the future, based on expected inflation and interest rates. The Social Security and Medicare trustees calculate the NPV of the programs (1) over the next 75 years and (2) if the programs were to continue forever (infinite time horizon). Unfortunately, you're no more ignorant of this subject than almost 100% of Americans are. You clearly have no concept of accrual accounting; they don't either. The end result is that the true past service cost of Medicare has been understated by trillions and the net deficit amounts to that figure less the [relatively] small CASH surplus that now exists in the fund. And you, like millions of other Americans, are oblivious.