Free Republic 4th Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $51,922
Woo hoo!! And we're now over 59%!! Thank you all very much!! God bless.

Keyword: unfunded

Brevity: Headers | « Text »
  • Social Security unfunded liabilities rise to $12.5 trillion, according to trustees report

    07/14/2017 5:15:22 AM PDT · by george76 · 31 replies
    Washington Examiner ^ | Jul 13, 2017 | Joseph Lawler
    Social Security's unfunded liabilities total $12.5 trillion in present-dollar terms over a 75-year timeframe, the administration's trustees reported Thursday, an increase of $1.2 trillion from last year's estimate. The trustees report showed that Social Security's combined trust fund can only pay scheduled benefits through 2034, a projected date that is unchanged from a year ago. Medicare's trust fund, though, is in better shape than previously estimated and will run out a year later than previously anticipated, in 2029. At those dates, beneficiaries would face the prospect of an immediate cut in benefits unless policy were changed in some way to...
  • Colorado state pension plan to miss full-funding target by 14 years [ PERA ]

    10/20/2015 7:38:15 AM PDT · by george76 · 8 replies
    Denver Business Journal ^ | Oct 19, 2015 | Monica Mendoza
    Colorado’s pension plan is on track to be fully funded by 2055 — 14 years after the 2041 target date set by the Colorado Legislature in 2010. Now, lawmakers will need to decide if they want to stick to the 2041 target date, or agree that it will take longer than they planned for the Colorado Public Employees’ Retirement Association to have the money to pay for the promised benefits to PERA’s 529,000. The probability of the financial projections, as well as other variables, were discussed today with members of the Colorado Legislative Audit Committee, who heard the results of...
  • Why Pensions Are A (Big) Black Swan – Chicago’s Unfunded Liabilities Are 10 Times Its Revenues

    07/19/2015 7:44:43 AM PDT · by george76 · 33 replies
    Investment Watch ^ | July 17, 2015 | John Rubino
    Why Pensions Are A (Big) Black Swan – Chicago’s Unfunded Liabilities Are 10 Times Its Revenues, 50% Of Their Cash That Will Have Go To Pensions. [ Full title ]. ... When talk turns to what might derail today’s debt-driven “recovery,” the big names and easy stories get most of the attention: China with its soaring debt, volatile equities and heavy-handed intervention; Japan with its stratospheric debt and science fictiony demographics; Greece, which needs no explanation; the developing countries with their weak currencies and mountain of dollar-denominated debt. And of course America’s triple bubble of stocks, bonds and derivatives. Underfunded...
  • The Left's New Insult: "Go Fund Yourself"

    05/07/2015 2:46:35 PM PDT · by Kaslin · 28 replies ^ | May 7, 2015 | Laura Hollis
    A significant number of Americans seem to no longer understand our constitution, our system of government or the structure of our legal system. The outcry over crowdfunding support for litigants is a good example. When Memories Pizza in Walkerton, Indiana, was forced to shut down because of threats, supporters rallied to help them, raising over $800,000 on a GoFundMe fundraising page that had been set up for that purpose. The left went ballistic. It wasn't enough that the owners of the misbegotten restaurant had been given a public flogging for an opinion the press had solicited (as opposed to an...
  • Financial System Will Collapse Just a Matter of When -Prof. Laurence Kotlikoff

    04/07/2015 10:02:03 PM PDT · by concernedcitizen76 · 27 replies
    USA Watchdog ^ | March 18, 2015 | Greg Hunter
    Renowned economist Laurence Kotlikoff recently testified at the U.S. Senate about the runaway U.S. budget. How bad is it? Kotlikoff says, “I told them the real (2014) deficit was $5 trillion, not the $500 billion or $300 billion or whatever it was announced to be this year. Almost all the liabilities of the government are being kept off the books by bogus accounting. The government is 58% underfinanced. Social Security is 33% underfinanced. So, the entire government enterprise is in worse fiscal shape than Social Security is, but they are both in terrible shape.” So, how much is America on...
  • Washington’s $210 Trillion Deficit

    03/22/2015 8:14:15 PM PDT · by concernedcitizen76 · 55 replies
    Tea Party Economist ^ | March 12, 2015 | Gary North
    You read that right: $210 trillion. A trillion here, a trillion there: pretty soon, we’re talking big money. Professor Lawrence Kotlikoff of Boston University testified before the Senate Budget Committee. As usual, his testimony is shocking The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25. “The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not...
  • Bullying's a problem. Could this proposed Minnesota law be a solution?

    02/09/2014 7:12:51 AM PST · by TurboZamboni · 35 replies
    Pioneer Press ^ | 2-9-14 | Christopher Magan
    It's expected to be the most passionately debated piece of education policy for the legislative session that begins Feb. 25. Supporters say that Minnesota's current law, at 37 words, doesn't do enough to prevent bullying and that sweeping change is needed. "Nobody should be OK with the fact that all we have to protect students and make schools safe from bullying is 37 words," Kurzer-Zlotnick said. "To me, that's ridiculous." Opponents argue that the 20-page bill goes too far by taking away local control and imposing costly new layers of bureaucracy on schools. "I think it's a bad bill," said...
  • Moody’s warns of bankruptcy in Scranton as city faces $20 million budget gap ( Penna )

    11/11/2013 3:08:11 PM PST · by george76 · 13 replies
    PA Independent ^ | November 11, 2013 | Eric Boehm
    Scranton could be headed towards another fiscal crisis like the one that resulted in city workers having their pay cut to minimum wage in 2012... Moody’s warned investors that Scranton could be facing the threat of default or bankruptcy thanks to a $20 million budget gap for the fiscal year that begins Jan. 1. The city is supposed to approve a new budget by Nov. 15, which would have to close that deficit to balance the budget. ... A similar crisis hit the city in July 2012, which lead to Mayor Chris Doherty cutting all city workers’ pay to minimum...
  • Obama Rationing Plan Revealed in Lawsuit

    02/27/2013 4:01:17 PM PST · by TurboZamboni · 6 replies
    A federal lawsuit has revealed one of Obama's rationing plans. The Administration says states can cut Medicaid payments to doctors and other providers to hold down costs -- until they decide not to and states are stuck with the bill. This is a breathtaking statement. President Obama's signature law, Obamacare, adds 16 million people to Medicaid. It offers states the "opportunity" to expand Medicaid at no cost for the first two years, and then offers to pay 90% of the cost in perpetuity of all individuals eligible under the expansion. The law also increases payment to primary care doctors for...
  • Is Our Debt Burden Really $100 Trillion? (probably more - 'unfunded liabilities' are a KILLER)

    01/06/2013 1:26:02 PM PST · by Libloather · 26 replies
    The Atlantic ^ | 11/28/12 | Derek Thompson
    Wanna scare somebody about America's debt on the eve of the Fiscal Cliff? I mean, really scare somebody? Here's a trick. Don't talk about the debt. Talk about "unfunded liabilities." The U.S. national debt comes out to about $16 trillion today. That's something. But it's nothing compared to the extra $87 trillion in unfunded liabilities to Social Security, Medicare, and federal pensions. Here's how that works. If you add up all of the U.S. government's promises to pay retirement and health care benefits for the next 75 years and subtract the projected tax revenue dedicated to those programs over the...
  • U.S. pension holdings rival richest nations’ GDP

    08/10/2012 6:38:40 AM PDT · by afraidfortherepublic · 7 replies
    The Wisconsin Reporter ^ | 8-10-12 | M. D. Kittle
    MADISON – The combined assets of U.S. state-administered public pension systems are approaching the Gross Domestic Product of the United Kingdom – cost of the Olympics not included. And potential liabilities of the financially troubled system is nearly that of the GDPs of Russia and Canada combined. The 222 state-administered defined benefit retirement plans totaled $2.5 trillion in cash and investment holdings in 2011, a 14.6 percent increase from $2.2 trillion in 2010, according to new statistics from the U.S. Census Bureau. By comparison, the United Kingdom posted $2.417 trillion in nominal gross domestic product in 2011, the sixth largest...
  • White House ‘Can’t Wait’ To Help Young People Get Summer Jobs

    01/05/2012 12:51:48 PM PST · by ColdOne · 29 replies ^ | 1/5/12 | ABC.
    President Obama will continue his campaign to bypass Congressional opposition to his jobs agenda Thursday by announcing a new partnership aimed at helping a quarter of a million young people find summer jobs. The initiative, part of Obama’s “We Can’t Wait” campaign, is intended to replace a youth jobs fund that would have been enacted had Congress passed the president’s $447 billion jobs bill. “America’s young people face record unemployment, and we need to do everything we can to make sure they’ve got the opportunity to earn the skills and a work ethic that come with a job. It’s important...
  • Repeal our unfunded health law? No way, says GOP

    09/18/2011 9:07:34 AM PDT · by Nachum · 52 replies
    AP ^ | 9/18/11 | Ricardo Alonso-Zaldivar
    WASHINGTON (AP) — It's a massive health care entitlement with unfunded future costs over $7 trillion. Many conservatives are still upset at the way it was rammed through Congress. But when the Republican presidential candidates were asked last week asked if they would repeal the Medicare drug benefit, they said no way. After all, Republicans created it. Republicans want to pull the plug on the health care overhaul they call "Obamacare," but that law is arguably less a deficit driver than the Medicare drug plan they are defending.
  • Report: Public pension, health care gaps grew in 2008-09

    04/27/2011 7:36:26 PM PDT · by SmithL · 1 replies
    SacBee: The State Worker ^ | 4/27/11 | Jon Ortiz
    California public pension funds had a combined $490 billion in obligations in fiscal 2008-09 and enough assets on hand to cover 81 percent of those promises, according to a new report. But the state's overall public employee retiree health care liabilities reached $66.6 billion with virtually no money set aside for those future obligations, according to the survey by Pew Center on the States. "The Widening Gap: The Great Recession's Impact on State Pension and Retiree Health Care Costs" also says that California should have paid $12.4 billion into its public retirement funds that year but paid only about 82...
  • Gingrich Says He Doesn't Regret Supporting Medicare Drug Plan Which Is Now a $7.2 Trillion Unfunded

    03/18/2011 2:11:08 PM PDT · by Nachum · 46 replies
    CNS NEWS ^ | 3/18/11 | Nicholas Ballasy
    ( -- Former House Speaker New Gingrich (R-Ga.), a likely 2012 presidential candidate, told today that he does not regret supporting the enactment of the Medicare prescription drug plan which now presents the federal government with a $7.2 trillion unfunded liability. An unfunded liability is a benefit the federal government has promised to pay that is not matched by tax revenue to fund it and thus represents an anticipated increase in the national debt.
  • State Pension System Liabilities

    03/03/2011 8:15:33 AM PST · by reaganaut1 · 7 replies
    National Bureau of Economic Research ^ | March 3, 2011 | Laurent Belsie
    In Policy Options for State Pension Systems and Their Impact on Plan Liabilities (NBER Working Paper No. 16453), co-authors Joshua Rauh and Robert Novy-Marx examine 116 state-sponsored pension plans, including all of those with more than $1 billion of assets, to estimate the extent of unfunded pension liabilities and how that issue might be addressed. When states value their pension systems, they typically use a discount rate of 8 percent. The authors note that the principles of financial economics suggest using a much more conservative discount rate. "This means discounting either with a taxable state-specific municipal yield curve, which credits...
  • “It” Is Scarier Than Anything Stephen King Has Ever Written

    01/04/2011 9:45:45 AM PST · by survivingcalifornia · 27 replies ^ | January 1, 2011 | Bobbo
    A couple of days ago I posted this original article on my blog about the huge problem coming with the 'real' national debt. Several people wanted me to post it here so I hope you find it as interesting: We here at Surviving California have been asking our friends for the last several years a question…and “it” has surprised us that no one else seems to be asking “it”. Either “it” is a very dumb question (a real possibility consider our history) or people have been in a self-induced fog preventing them from realizing the immensity of “it”. When we...
  • SAN FRANCISCO: City has saved nothing towards $4.36 billion health care bill

    12/16/2010 3:54:21 PM PST · by SmithL · 21 replies · 1+ views
    SFGate: City Insider ^ | 12/16/10 | Heather Knight
    Got a spare $5,500 lying around that you want to get rid of? If every single San Franciscan coughed up that amount, we could pay City Hall's retiree health care bill - for now anyway. A new report from the controller's office shows the city has an unfunded retiree health care liability of $4.36 billion. That means it'll cost that much to pay the promised health care benefits for every current employee and retiree - and that number will keep growing as health care costs rise. By 2033, the tab will be a whopping $9.7 billion. Guess how much the...
  • Perry: 'Social Security is Ponzi scheme'

    11/21/2010 10:15:18 AM PST · by george76 · 30 replies · 1+ views
    The Hill ^ | 11/21/10 | Gautham Nagesh -
    Republican Governors Association chairman Rick Perry (R-Texas) called Social Security a Ponzi scheme on Sunday and said young workers know they will never receive any of the money they currently pay into the fund. "What I'm saying is that between Social Security, Medicaid and Medicaid there's $106 trillion of unfunded liabilities and not one dime saved to pay for them," Perry said on Fox News Sunday. "My children who are in their 20s know that Social Security is a Ponzi scheme." When challenged by host Chris Wallace, who pointed out that when Social Security started there were seven or eight...
  • CA: Fiscal storm on horizon - Government officials soon must start acknowledging unfunded benefits

    12/18/2006 7:23:38 AM PST · by NormsRevenge · 9 replies · 674+ views
    LA Daily News ^ | 12/18/06 | Harrison Sheppard
    SACRAMENTO - Already grappling with spiraling annual health costs, some of the largest agencies across California are facing a new squeeze as they're forced to begin fully accounting next year for retiree health-care liabilities. And for the first time, many will have to acknowledge they have accumulated hundreds of billions of dollars in looming costs with no comprehensive way to pay for it other than by cutting strained budgets. Annual health costs for state and local government retirees are expected to total at least $4.5 billion this year and could soar to almost $31.5 billion by 2019, according to a...