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Thursday, October 29, 2009

Tom Blanton Doesn't Understand Present-Value Calculations

Tom Blanton, I never said that an infinite-horizon liabilities calculation should not include the T-bill-denominated national debt -- I simply reported that Root's $100T figure is exceeded by SS and Medicare liabilities alone.

The 75-year and infinite- horizon figures aren't "speculations".  They are present-value calculations by the Social Security and Medicare trustees themselves.  If you don't understand the concept of the present value of an indefinitely-continuing financial flow, then educate yourself by consulting the equations at

Regarding Root's accusations that Obama is concocting new Ponzi schemes, please re-read @8 until comprehension sets in.

Regarding your complaint that I didn't quote Root's entire article, or quote from previous articles that I wasn't talking about: ROTFL. The fact remains that, as you admitted, you quoted Root out of context when you complained that he suggested all of the national debt is due to Obama.  I did nothing of that ilk.

Keep running, keep hiding, keep changing the subject to Reagan or Dondero or Beck or whoever -- anything but stand and defend your statements about Root's lack of truthfulness.