Showing posts with label boston university. Show all posts
Showing posts with label boston university. Show all posts

Thursday, October 28, 2010

The scary actual U.S. government debt

From Globe and Mail.

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion – 840 per cent of current GDP. “Let’s get real,” Prof. Kotlikoff says. “The U.S. is bankrupt.”