It shows that assertions questioning the capacity of the
FEDERAL government to pay for programs, usually prefaced with the call for â $ ˜â $ ˜adult conversationsâ $ ™ â $ ™, and couched in terms such as fiscal sustainability, solvency, and
unfunded liabilities, are red - herrings that will lead to needless reductions and privatizations of public programs in health care, elder care,
pensions and so on.»
Today, taxpayers are unable to afford state and local government employee
pension entitlements to the tune of $ 5.8 trillion, of which $ 1.7 trillion is
unfunded, according to the
Federal Reserve.