4 ms·
>Unfunded liabilities (money that is owed, but not currently on-hand) in the United States are said to be greater than $127T: This is classic one-sided account
by forgetsusername 11y ago
>Unfunded liabilities (money that is owed, but not currently on-hand) in the United States are said to be greater than $127T:
This is classic one-sided accounting. That money is not vaporized, never to be seen again when it's paid out. It is paid to US citizens as income. Out one pocket, into another.
- wutbrodo 11y agoI'm far from a reflexive debt hawk, but when someone mentions something like this, aren't they usually referring to the instability inherent in unfunded liabilities (as opposed to what you seem to be assuming (s)he means, which is that the money is illusory)?
- seanmcdirmid 11y agoAnd let's not ignore the usa's role as a debtor of last resort: people actually need to save money for retirement, China and Norway needs to do something with their dollars so their economies don't overheat. Even if the interest rates suck, the US gov and financial system has always been will to take your dollars off your hands in a pretty safe way, which is part of the reason the dollar has been so successful.
- jes 11y agoI suspect whatever fraction of it is to be paid will be stolen from the young / yet-to-be-born and given to others. That strikes me as extremely corrupt. Politicians steal from the young / unborn and use the money to advance their careers. But to your point, yes, it's from one American to another, strictly speaking. I don't see that as making it moral.