The $44 Trillion Abyss: The baby-boomers are about to retire, and it's going to cost us—big. Here's what the government doesn't want you to know. (Features/Cover Stories/Economy) Anna Bernasek.
Fortune Nov 24, 2003 v148 i11 p113
Instructions: Locate this article by visiting http://www.infotrac-college.com and entering "trillion abyss" as Keyword search terms, and then answer the following questions.
1. What are the basic concepts of generational accounting?
2. How did Smetters and Gokhale come up with the $44 trillion figure?
3. What is the significance of this figure?
4. What did the Bush administration do with the Smetters and Gokhale’s report? Why?
5. What is the long-term outlook for social security, Medicare, and taxes?
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