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The US is bankrupt?

The NewsLog of Flemming Funch
 The US is bankrupt?2006-07-17 13:22
3 comments
by Flemming Funch

The Telegraph:
The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.

A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a leading constituent of the US Federal Reserve.

Prof Kotlikoff said that, by some measures, the US is already bankrupt. "To paraphrase the Oxford English Dictionary, is the United States at the end of its resources, exhausted, stripped bare, destitute, bereft, wanting in property, or wrecked in consequence of failure to pay its creditors," he asked.

According to his central analysis, "the US government is, indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in this context, are current and future generations to whom it has explicitly or implicitly promised future net payments of various kinds''. ...
Oh, nothing to worry about, I'm sure. Just lower taxes some more, and start some more wars, and focus on important stuff like gay marriages, and God will take care of everything.


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3 comments

11 Mar 2016 @ 09:50 by business plan writers @23.106.252.132 : Important
Thank you for the information of 2006, which was practical, I have used it for my statistics in my report. Leave your feedback, I would appreciate your points of view on the report.  


19 Aug 2016 @ 05:12 by National drink of Pakistan @39.36.81.64 : Malik
The actual tragedy within Pakistan is constantly on the worsen because relief materials and help fall far lacking what is needed. More help is frantically needed since the potential for an incredible number of fatalities starts to loom.  


1 Dec 2016 @ 12:08 by Merry Christmas And Happy New Year 2017 @122.173.246.99 : Merry Christmas And Happy New Year
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