by Dismal-Jellyfish Good afternoon, resident jellyfish here! I hope everyone is enjoying a great Thursday. I want to take a minute to discuss a graph I am sure is going to catch some folks attention pulled from today’s H.4.1 release: https://fred.stlouisfed.org/series/RESPPLLOPNWW …
by Dismal-Jellyfish Good evening, jellyfish here! I hope everyone is enjoying a wonderful rest of the evening and an awesome start of the weekend. I want to take a minute to discuss a graph I am sure is going to …
by confoundedinterest17 As Congress debates their $3.5 trillion spend-a-thon and their human infrastructure bills, we need to bear in mind that while US Treasury debt is at $28.863 trillion (and growing really fast), the US has promised $157.738 TRILLION in unfunded benefits …
by Michael Snyder The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it. According to the U.S. Treasury, the federal …
via alec.org: Unfunded liabilities in public pension plans continue to loom over state governments nationwide. If net pension assets are determined using more realistic investment return assumptions, pension funding gaps are significantly wider than even the large sums reported …
via CNBC: A big change in lease accounting rules effective Jan. 1 requires companies to record operating leases on their balance sheets. Operating leases include everything a company rents to run its business, from office space, equipment, factories to planes …
via fullmeasure: – It has between 3 to 5 million illegal immigrants. – 1/3 of the nation’s welfare recipients. – 1 in 4 of America’s homeless population. – 1 in 5 Californians lives in poverty. – Its public schools rank in …
via confoundedinterest: Chicago IL (should be ILL) is the poster child for an insane pension program (mostly to municipal workers and public school teachers). But not only in the city of Chicago, but the state of ILLinois as well. Consider that …
by SpontaneousDisorder https://www.bloomberg.com/news/articles/2018-09-27/fed-accounting-change-boosts-unfunded-pension-obligations-chart In case you missed it, the Federal Reserve’s quarterly Financial Accounts report last week included a change to accounting for state and local pension-fund programs. The central bank revised its data for unfunded liabilities, applying a “projected benefit …
Larry Lindsay, 5/19/15: “Unfunded entitlemt liabilities take US Federal debt oblig’s closer to 300%, not 100%, which is > Greece’s debt.” A. Greenspan: “We’re not getting like Greece, we’re getting like Illinois.” Richard Fisher: “[Laughs] Which is worse – Illinois …