$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:

Georgia Man Holding Pepper Spray Killed in Drug Raid
Son of top DHS border cop busted for running cocaine
Hacking an Airplane With Only an Android Phone
Peter Schiff: Symptoms Don't Lie
Chicago's Cash-on-Hand Plunges
U.S. government tried to aggressively punish ‘leaker’ journalist in World War II
LAPD Detains Photographer For 'Interfering' With Police From 90 Feet Away
10 Shocking Examples of Police Killing Innocent People in the "War on Drugs"
Third In-Custody Death For The Kern County Sheriff's Dept. In Four Months
Voluntary Slavery in Action? 'Why I Am Leaving College'
Media Begin Orchestrating the Celebration: the FED’s 100th Birthday
DC Cabbies Sue City Over GPS Spying
Dream Chaser flight a 'success' despite gear failure
China’s Shadow Currency Addiction: ‘The Mother of All Bubbles’
Reuters Explains the Prevalence of Central Bank Money Printing