Dr. Laurence Kotlikoff: The US is Bankrupt, Worse Off Than Politicians Are Claiming

Dr. Laurence Kotlikoff is going on record claiming the financial situation of the United States government is far worse than our federal government is telling us. He says our government has gotten into a situation in which it won't be able to pay its bills. Is this a surprise? I don't think so considering we are now over $14 trillion in debt. Just the interest payments along begin to strangle an economy.

Kotlikoff says the federal government is lying to us claiming there is a $220 trillion shortfall. Good grief! Watch the interview.



“Based on the CBO’s data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the official debt.,” he wrote. “This gargantuan discrepancy between our ‘official’ debt and our actual net indebtedness isn’t surprising. It reflects what economists call the labeling problem. Congress has been very careful over the years to label most of its liabilities ‘unofficial’ to keep them off the books and far in the future.”