Advice is one thing. Predictions of economic meltdowns, worldwide depressions and utter doomsday scenarios are often met with derision. Do you really think it is mere "advice" that gets people so fired up?
Within the S&P 500, 295 companies offer [pension benefits] with the aggregate under funding for 2005 being $320.9 billion, which is 129% greater than that of the 2005 S&P 500 pension under funding. * * * Combined, pension and OPEB assets set aside for issues in the S&P 500 amounted to $1,409.2 billion in 2005 to cover $1,870.5 billion in obligations, with the resulting under funding of $461.4 billion being a record deficit."The light at the end of the OPEB tunnel is clearly another train * * *"
Lets see: That is a record deficit of only $ 462.4 billion for last year alone. Nobody is going to do anything about the problem this year. Again. So add another $ 500 billion. Congress is lazy. So they will not do anything about it next year. In the meantime, baby boomers are retiring. Which means each year the problem will get worse, not better. Any suggestions?