"Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole"
- John W. Snow
About this Quote
This quote by John W. Snow is referring to the Social Security system in the United States. He is stating that the system has an unfunded commitment of $11 trillion. This suggests that the federal government has assured to pay out more cash than it has presently set aside to cover the expenses. This suggests that the government will require to come up with $11 trillion at some point in order to make the system entire and make sure that all of the promised benefits are paid out. This is a significant quantity of money and it is necessary that the government takes actions to guarantee that the system is adequately funded in the future.
This quote is written / told by John W. Snow somewhere between August 2, 1939 and today. He/she was a famous Economist from USA.
The author also have 26 other quotes.
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