If you, as a 25 year old, had to give your entire paycheck to your 65 year old father, that would certainly suck for you. If your father needed that money to survive and you only gave him half your paycheck, that would certainly suck for him. These transfers do not change your family net worth.
So saying the unfunded liability of Social Security and Medicare is larger than our net worth and therefore we are bankrupt is simply wrong. We're simply moving it from one person's control to another's.
"These transfers do not change your family net worth."
That's certainly good to know and I'm glad to hear that all these transfers are unnecessary so that we can merely stop making them and save all of those administrative costs do to governmental "management" of things.
I haven't the slightest doubt that we could do the same thing with the Medicare entitlements too since after all that money stays within the economy also. think of the savings!!! Those funds just get switched back and forth from one family to another anyway but don't really affect anything.
Come to think of it, we could just eliminate money, wages, investments, etc. None of that stuff matters as it just circulates around and everyone passes it back and forth among themselves. Hardly worth the effort, I'd say.