Monday, April 15, 2013

David Stockman: Social Security Trust Fund is “Filled with Confetti.”

Former White House Budget Director in the Reagan Administration, David Stockman warns about the future. The bond bubble will bust, he says. The clip below picks up just after Stockman says that the Social Security Trust Fund is "filled with confetti."



  1. Ditto banks, Wall Street, treasury, and the Fed...

  2. One major problem is that we don't even know how bad finances for Social Security are since their forecasts may be way off track. e.g. their forecast in 1950 for the population in 2000 was off by 42%. What if their expenses are off by that much in current forecasts? The word hasn't been spread about this, but their longterm forecasts are very poorly done. For instance their "high cost" scenario is "high cost" in nominal dollars.. but not in real inflation adjusted dollars. They pretend they can forecast GDP through 2090 more accurately than the CBO and other entities do for a few years, in fact more accurately than it can be measured (looking at the GDI vs. GDP discrepency) Details on this new page here that needs to be spread around before they come up with another bogus forecast: