According to the approach developed by Gokhale and Smetters in 2003,the discounted value of the long-run fiscal imbalance of Social Security and Medicare programs,as of 2012,was approximately:

Question

Quizplus · Accepted Answer

Gokhale and Smetters' 2003 study estimated the long-run fiscal imbalance of the U.S. Social Security and Medicare programs to be approximately $63 trillion in present value terms as of 2012. This figure reflects the present value of expected future program expenditures minus expected future tax revenues over an infinite horizon.

According to the Approach Developed by Gokhale and Smetters in 2003,the