$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.”

http://teapartyeconomist.com/2012/08/10/11-trillion-increase-in-debt-in-one-year/

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