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'True Revolution' Ahead for US Fiscal Future: Alan Greenspan
Employee Compensation in State and Local Governments
Funding gap doubles for US corporate pensions
I love how the media always hypes that corporations are sitting on piles of cash.
The Fed's $16.6 Trillion Bailouts Under-reported
Actual U.S. Debt Exceeds GDP Of Entire Planet
The United States faces a "true revolution" in the choices it will have to make to secure its fiscal future now that the welfare state has run up against a "brick wall of economic reality," former Federal Reserve Chairman Alan Greenspan said Wednesday.
Employee Compensation in State and Local Governments
A recent study by Robert Novy-Marx and Joshua Rauh found that governments are “severely underestimating” their pension liabilities by the use of high discount rates.10 Using more realistic assumptions, the authors found that state and local pensions were underfunded by $3.2 trillion, or three times more than the officially reported amount.
Funding gap doubles for US corporate pensions
From a moderate surplus at the end of 2007, pension plan assets at S&P 500 companies now cover only about 74 per cent of estimated liabilities, calculates Credit Suisse, a deficit of roughly $450bn. At the start of the year the S&P 500 pension funding gap was estimated at $250bn, according to Credit Suisse.
I love how the media always hypes that corporations are sitting on piles of cash.
The Fed's $16.6 Trillion Bailouts Under-reported
Actual U.S. Debt Exceeds GDP Of Entire Planet