$11 Trillion Increase in Federal Debt in One Year

“The unfunded liabilities of the U.S. government grew in one year by $11 trillion, says Prof. Lawrence Kotlikoff of Boston University. He is using figures provided by the Congressional Budget Office.  Republicans and Democrats in Congress a year ago could not figure ways to cut $210 billion a year for a decade. Meanwhile, the real debt grew by $11 trillion.  Understand, this is the present value of the gap. It’s not that, over the next 75 years, there will be $11 trillion more debt. It is that the present value of the entire gap is $11 trillion. We need $11 trillion today, invested in high-return capital.”



Related posts:

“We Need a Drug Dog So We Can Seize More Property and Raise More Money”
If You Want Good Tax Policy, Choose Jersey (but not New Jersey!)
CIA’s big data mission: ‘Collect everything and hang onto it forever’
Obama Will Become First President to Spend $4 Trillion in One Year
First-ever music video filmed in space is David Bowie’s ‘Space Oddity’
NDAA Indefinite Detention Reinstated by Appeals Court
Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time
California Senate Says No To NDAA
Hackers compromise official PHP website, infect visitors with malware
Small business Obamacare online enrollment delayed a year
Triple-Digit Gains Are on Tap for This Investment, History Shows
Slovenia 'Clarifies' Position on Cryptocurrency Tax
The definition of karma: PayPal president's credit card gets hacked
Better Bitcoin Exchanges Could Balance Out Mt. Gox Destruction
What's the Best Small Cap Electronic Cigarette Stock?