When an individual buys a home with a mortgage they incur the very large “Unfunded Liability” of that mortgage. So you could very well state that an individual with an income of only say $60,000 now has an “Unfunded Liability” of say $600,000. The caveat here, is that the individual has some 30 years to pay off that mortgage. And at the same time the mortgage payments themselves have been set at an amount that are well within the ability of the individual to pay.
Now, the state has exactly the same kind of contract with its “Unfunded Liabilities”. When you add up those liabilities they do indeed look just as enormous as an individuals mortgage looks. However, the same thing applies to the length of time in the future that the government (be it local, state, or federal) has to make those “Unfunded Liabilities: into :Funded Liabilities” and pay them off. Then they look no larger to the governments ability to pay them off then the individuals mortgage payments to said individual look to that individuals ability to pay!!
Another example is the kind of thinking used to stop governmental programs (whether they be worthwhile of not is not the question). It has been said by its opponents that the space shuttle was a $100 billion dollar program, and they would be correct. But, exactly how was that figure arrived at? They took the entire developmental costs over the twelve years or so of the development of the shuttle itself. Then added the cost of the production of the five shuttles eventually built. And then added the cost of production launch and maintenance costs over the thirty years or so of the shuttles production use. Of course, this comes to at least $100 billion dollars! Again, the caveat is that that amount was funded over some 42 years, or only an average of about $2.5 billion per each year of the program, easily affordable by a NASA budget of some ten to twenty $billion over all of those years!
The truly funny (in a sad sort of way) thing comes up every once in awhile when some people state that the federal government has an “Unfunded Liability” of over $100 trillion dollars. But, once again, what is not being stated by those same people is that liability exists over the time period of the rest of this century!!
It might actually be kind of nice if some people would just attempt to be at least somewhat honest every once in awhile, even if it would not serve their particular ideology!!
Yours is not even a true analogy as it is not the way that either individuals or reasonable governments act. The lack of education, and even basic knowledge or intelligence is sometimes astonishing on these boards!!
moosemin almost 10 years ago
Hey, GOCOMICS! Someone goofed! Steve did this one last week!
rpmurray almost 10 years ago
If that weed grew in Colorado, they’d be smoking it.
frodo1008 almost 10 years ago
When an individual buys a home with a mortgage they incur the very large “Unfunded Liability” of that mortgage. So you could very well state that an individual with an income of only say $60,000 now has an “Unfunded Liability” of say $600,000. The caveat here, is that the individual has some 30 years to pay off that mortgage. And at the same time the mortgage payments themselves have been set at an amount that are well within the ability of the individual to pay.
Now, the state has exactly the same kind of contract with its “Unfunded Liabilities”. When you add up those liabilities they do indeed look just as enormous as an individuals mortgage looks. However, the same thing applies to the length of time in the future that the government (be it local, state, or federal) has to make those “Unfunded Liabilities: into :Funded Liabilities” and pay them off. Then they look no larger to the governments ability to pay them off then the individuals mortgage payments to said individual look to that individuals ability to pay!!
Another example is the kind of thinking used to stop governmental programs (whether they be worthwhile of not is not the question). It has been said by its opponents that the space shuttle was a $100 billion dollar program, and they would be correct. But, exactly how was that figure arrived at? They took the entire developmental costs over the twelve years or so of the development of the shuttle itself. Then added the cost of the production of the five shuttles eventually built. And then added the cost of production launch and maintenance costs over the thirty years or so of the shuttles production use. Of course, this comes to at least $100 billion dollars! Again, the caveat is that that amount was funded over some 42 years, or only an average of about $2.5 billion per each year of the program, easily affordable by a NASA budget of some ten to twenty $billion over all of those years!
The truly funny (in a sad sort of way) thing comes up every once in awhile when some people state that the federal government has an “Unfunded Liability” of over $100 trillion dollars. But, once again, what is not being stated by those same people is that liability exists over the time period of the rest of this century!!
It might actually be kind of nice if some people would just attempt to be at least somewhat honest every once in awhile, even if it would not serve their particular ideology!!
frodo1008 almost 10 years ago
Yours is not even a true analogy as it is not the way that either individuals or reasonable governments act. The lack of education, and even basic knowledge or intelligence is sometimes astonishing on these boards!!
frodo1008 almost 10 years ago
You can not be anything but snide and nasty, can you? No facts, no reasonable debate, just hateful comments! Sad, really sad!!