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Thursday, October 29, 2009

Re: Re : [CALPCandidates] Re: helping the old and poor

Harland Harrison wrote:

HH) I don't think it should read "interest plus inflation" in the
discussion below. (HH

I of course meant "real interest", not nominal interest. I should have
made that explicit.

HH) calculating the total liability is difficult (HH

It's difficult for the programs that are like insurance (SS disability
and Medicare), but it's trivial for the SS Old Age and Survivors
program. That's why I said the insurance-like programs should be
calculated by age cohort.

I was wondering whether Concord had factored out the trust funds, so
thanks for pointing out that footnote. I've updated my figures,
resulting in the total liability being reduced by about $4T, down to
$64.2T. Each of my daughter's share drops from $218K to $208K.

Oddly, they didn't seem to feel like celebrating at the news....