Debt and Deficit: The Problem with Entitlements. Mark Schug Ph.D . Professor Emeritus University of Wisconsin-Milwaukee. Overview. What is the national debt? How is federal spending changing? What are entitlements? How does Social Security work? What is debt, deficit, and surplus?
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Mark Schug Ph.D.
University of Wisconsin-Milwaukee
Remember the 1994 episode of Friends, whenRachel receives her first paycheck from a waitressing job?
Source: Social Security : Trustees Report Summary, 2010