Thursday, May 17, 2012

“U.S. Is Bankrupt and We Don’t Even Know: Laurence Kotlikoff”

” . . . Based on the CBO’s data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the official debt. This gargantuan discrepancy between our “official” debt and our actual net indebtedness isn’t surprising. It reflects what economists call the labeling problem. Congress has been very careful over the [...]



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