US Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff

US Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff Video Clips.

Laurence Kotlikoff Interview on US Economy Aug. 11 (Bloomberg) -- Laurence Kotlikoff, an economics professor at Boston University, talks about the state of the US economy. Kotlikoff speaks with Erik Schatzker on Bloomberg Television's InsideTrack." (Source: Bloomberg) US Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff www.bloomberg.com Let's get real. The US is bankrupt. Neither spending more nor taxing less will help the country pay its bills ( www.bloomberg.com ). What it can and must do is radically simplify its tax, health-care, retirement and financial systems, each of which is a complete mess. But this is the good news. It means they can each be redesigned to achieve their legitimate purposes at much lower cost and, in the process, revitalize the economy. Last month, the International Monetary Fund released its annual review ( www.imf.org ) of US economic policy. Its summary contained these bland words about US fiscal policy: "Directors welcomed the authorities' commitment to fiscal stabilization, but noted that a larger than budgeted adjustment would be required to stabilize debt-to-GDP." But delve deeper, and you will find that the IMF has effectively pronounced the US bankrupt. Section 6 of the July 2010 Selected Issues Paper ( www.imf.org ) says: "The US fiscal gap associated with today's federal fiscal policy is huge for plausible discount rates." It adds that "closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 ...

Keywords: International Monetary Fund, Boston University, Barack Obama, Ben Shalom Bernanke, Congressional Budget Office, Social Security, Healthcare, National Debt, Deficit, United States of America, Bankrupt, Loans, default, hyperinflation, Great Depression, World War II, Black Tuesday, World Bank, Argentina, Greece, Bond Market, Ponzi scheme, Keynesian economics, Adam Smith, Cloward & Piven

surge protector whole house men luxury watches reviews Maxtor External Hard Drives 300gb