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Kotlikoff: U.S. Government Going Broke



September 28, 2009 – Comments (1)

Boston University economics professor Laurence Kotlikoff says the government “is going broke.”

In a Federal Reserve Bank of St. Louis Review article, he points out that bankruptcy is usually defined as an inability to pay interest on current debt, with no prospect of being able to pay without changes in circumstances.

In assessing whether the United States is bankrupt, Kotlikoff drops the first half of the definition, The New York Times reports.

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1 Comments – Post Your Own

#1) On September 28, 2009 at 7:51 PM, ChrisGraley (28.67) wrote:

If it was 60 trillion 2 years ago, it's got to be close to 100 trillion now.

Like I said in blog post about a year ago, our debt exceeds World GDP and the rest of the world, couldn't bail us out if they wanted to and they don't want to.

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