Social Security's Investment Shortfall: $8 Trillion Plus — and The Way Forward:Plus How the US Government's Financial Deficit Reporting = 64 Madoffs

Nils H Hakansson
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Nils H Hakansson: UC Berkeley

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: The aim of this book is to document, on a solid and convincing foundation, two public policy mistakes of the United States Government that have been extremely costly. First, the failure to combine stocks with long-term government bonds in the Social Security Trust Fund, the way other nations do, has resulted not only in an investment shortfall well into the trillions of dollars, but has also reduced US and global economic growth and increased the national debt. Second, by employing the Unified Budget concept beginning in 1970, the US Government has since then understated its financial deficits by more than $4 trillion and in doing so it has shielded the increase in the debt owed to the public by roughly half.

Keywords: Quantitative Modelling; Statistical; Computer; Marketing; Neural Networks; Fuzzy Logic; K-Clique Model; Meta-Heuristics Investment; Social Security; Public Pension Plans; Trust Funds; Public Policy; Government Financial Reporting; Unified Budget; Economic Growth; National Debt; Pension Funds; Risk Premium; Entitlements; Passive Investments; Short-Term Borrowing; Private Social Security Accounts; Minimal Safety Net; Personal Safety Net; Long-Term; Total Returns; Compound Returns; Economies Of Scale; Fees; Administrative Expenses; Productivity; Administrative Independence; Transaction Costs; Market Impact; Mean Reversion; International Stocks; Moral Hazard; Economic Efficiency; Professional Management; Payroll Tax; Benefit; Beneficiary; Retirement; Survivor; Life Insurance; Disability Insurance; Contribution; Insurance Premium; Great Depression; Greenspan Commission; Inflation (search for similar items in EconPapers)
Date: 2012
ISBN: 9789814407960
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Chapters in this book:

Ch 1 INTRODUCTION , pp 1-8

Nils H Hakansson

Ch 2 SOCIAL SECURITY: A VERY BRIEF OVERVIEW , pp 9-12

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Ch 3 SAFETY NETS: INSURANCE POLICIES AND RETIREMENT PLANS , pp 13-18

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Ch 4 SHORTCOMINGS OF SOCIAL SECURITY , pp 19-28

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Ch 5 IF SOCIAL SECURITY FUNDS HAD BEEN INVESTED IN MARKETABLE TREASURY BONDS AND STOCKS … WITH OTHER THINGS BEING EQUAL , pp 29-45

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Ch 6 PRIVATIZING SOCIAL SECURITY RESULTS IN INEFFICIENCY, MORAL HAZARD, AND VERY LOW PRODUCTIVITY , pp 47-56

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Ch 7 THE WAY FORWARD , pp 57-63

Nils H Hakansson

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