Wednesday, October 29, 2008

A Billion Here, A Trillion There... Excellent Commentary on Current and Future Crisis

Excellent piece from Knowledge@Wharton, "A Billion Here, A Trillion There: Calculating the Cost of Wall Street's Rescue"

Like many experts, Smetters is not as concerned about the current deficit and debt as about the long-term obligations that include monumental sums for Social Security, Medicare and Medicaid as baby boomers age. "The problems that we face right now are trivial -- they are just an appetizer for the big show," he predicts.

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