Is your obedient blogger wrong to find this really scary?
Twenty countries of the Organization for Economic Cooperation and Development have promised their retirees a total $78 trillion, much of it unfunded....
That is close to twice the $44 trillion total national debt of those 20 countries, and the pension obligations are “not on government balance sheets...."
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1 comment:
You should find it very scary indeed. Unfunded pension obligations will be a yuuge story for the rest of the century.
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