The Six Trillion Dollar Debt Iceberg; A Review of the Government's Risk Exposure
Publication Date: June 1990
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Ronald D. Utt
Research Area: Banking and finance
Keywords: Economy
Type: Report
Abstract:
The Department of Labor should be instructed to hire an independent consultant to measure the risks and to determine whether the existing premium and supervisory system are sufficient to keep these risks at a minimum. Until such time as this comprehensive review is completed, the PBGC should follow the advice of the Department of Labor’s Inspector General by establishing better and more comprehensive auditing procedures. The Inspector General recommends that this task be contracted out to experienced, independent audit firms. In addition, Congress should give the PBGC more flexibility in setting its premium so that revenues cover losses and expenses on a sustained basis.
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