Thursday, June 11, 2009

Funny Money

"While the feds … leave Social Security off their books, the government's obligation to make benefit payments to current and near-term Social Security recipients is certainly no less real than its obligation to pay interest on its Treasury bonds. "

Laurence K. Kotlikoff, Harvard Business Review, "From Deficit Delusion to Generational Accounting", May-June, 1993


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