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Only weeks ago, Sheikh Mohammed bin Rashid al-Maktoum, Dubai's ruler, assured investors that the emirate would soon raise the funds to meet "current and future obligations".
The paper is accompanied by a CalSTRS data-based online visualization modeling the sustainability of a partially-funded pension plan underscoring its viability and ability to fulfill current and future obligations.
I've had a similar comfortable-uncomfortable Keynesian question kicking around my head for a while:What if Keynesian stimulus works, but only if your country doesn't already have too much debt and future obligations piled up at the moment you need the stimulus?
And, owing to the profligate policies of previous administrations, you happen to have too much debt and future obligations piled up right now...and you need the stimulus Paul Krugman had a heated back-and-forth with Kenneth Rogoff and Carmen Reinhardt this summer over whether or not there's any evidence that debt-levels equal to 90% of GDP is the point at which such an effect kicks in.
Pension funds across the country have been under scrutiny since the financial crisis as they have fallen behind in maintaining sufficient funds to meet current and future obligations to retired employees.
If the upcoming debt ceiling increase could be "the last debt ceiling increase you could ask for -- the final one -- and you had to make it large enough for all current and future obligations, what would the request need to be?" "I just can't do it in my head," Geithner eventually said when pressed on the question.
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Mayor Galambos also notes the city "made a clear decision" to not hand out "defined benefits" of any sort to police officers and firefighters, in order to keep taxes low and avoid future obligations.
These include a willingness to be truthful about our historical realities and our future obligations.
He often suggests this is a recently calculated figure, but it combines the cost of wars in Iraq and Afghanistan (which is actually in South Asia) and then includes future obligations for veterans costs and interest on the debt through 2053.
Now our government owes more than ever and has more future obligations than ever — like expanded Medicare prescription drug benefits, expanded health care, an expanded war in Afghanistan and expanded Social Security payments (because the baby boomers are about to retire) — and less real growth to pay for it all.
We will be prudent stewards of taxpayer dollars, paying down debt, and meet our future obligations.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com