Moral Outrage
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Posts Tagged ‘Laurence J. Kotlikoff

A National Debt of $211 Trillion!

August 9, 2011

Economics professor Laurence J. Kotlikoff, who served as a senior economist on President Reagan’s Council of Economic Advisers, says the national debt, which the U.S. Treasury has accounted at about $14 trillion, is just the tip of the iceberg. “We have all these unofficial debts that are massive compared to the official debt,” Kotlikoff tells […]

The IMF has declared the U.S. bankrupt

August 13, 2010

Neither spending more nor taxing less will help the U.S. pay its bills. Last month, the International Monetary Fund released its annual review of U.S. economic policy, and effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount […]