"It profits me but little that a vigilant authority always protects the tranquillity of my pleasures and constantly averts all dangers from my path, without my care or concern, if this same authority is the absolute master of my liberty and my life."

--Alexis de Tocqueville, Democracy in America

Monday, October 15, 2012

A Graph That Could Be Entitled "We're Screwed"

In pension plans, actuaries call the point at which too many people are expecting benefits to be paid by the contributions of too few workers the moment at which a "death spiral" begins.   When you reach that point, you're screwed.

We're screwed.  

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