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Understanding Where Social Security’s Reserves Fit in the GDP Picture
As pointed out in a recent article posted by CPA Michael Doorley on cpajournal.com, professionals in this line of work are often roped into conversation about the national debt, and specifically about its relationship to gross domestic product. Along with this need to comment, CPAs are frequently faced with the need to interpret statistical differences in numbers often used by the news media to “color” viewpoints on where USA finances are headed. As explained in CPA Doorley’s post, Social Security’s trust fund balances, along with several other similar funds, often play a key role in variations in the assessments. Using a hypothetical number set, Doorley illustrates how understanding where these trust fund balances fit in the picture can be illustrative. Check out his post here…
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