CBO forecasts 23% Social Security shortfall if no tax increases, benefit cuts or some combination are made before then.
It’s not pretty: History shows that this bad combo pares equities’ median returns by 2%, Goldman says.
Beware of a recession, chaotic global markets, and a weakened US going forward, if the federal spending cap isn’t raised, economist Zandi admonishes.
Largest US pension plan drops at least $15 billion as retirement programs worldwide suffer.
Former Federal Reserve chief warns that huge obligations will crowd out needed capital spending.
Plan is part of government effort to compensate for aging population.
Sharp drop due to 43% rise in Q1 disbursements, and additional benefit for retirees.