US in $202 trillion dollars of debt?

[The Thriller]

Yikes!

https://finance.yahoo.com/tech-ticker/%22enron-accounting%22-has-bankrupted-america-u.s.-deficit-really-202-trillion-kotlikoff-says-535354.html?tickers=udn%2Ctlt%2Ctbt%2Cuup%2CTIP%2C^gspc%2CGLD

The Congressional Budget Office (CBO) forecasts the U.S. budget deficit will hit $1.3 trillion this year. An astronomical figure, to be sure, but that’s lower than was projected in March. It’s also less than last year’s record $1.41 trillion deficit, which was close to 10% of GDP.

And, that's the good news.

As the deficit grows so does the national debt, which is currently more than $13.3 trillion, according to official figures.

But the situation is actually much, much worse, according to Boston University economics professor Laurence Kotlikoff.

“Forget the official debt,” he tells Aaron in this clip. The “real” deficit - including non-budgetary items like unfunded liabilities of Medicare, Medicaid, Social Security and the defense budget - is actually $202 trillion, the professor and author calculates; or 15 times the “official" numbers.

 

[sirkickyass]

That's an absurd estimate that's essentially devoid of meaning because it doesn't say how long it takes to get there.

Given that the bottom of the article then predicts hyperinflation, I'm writing him off.

 

[Beantown]

If any country should have surplus it should be us. I just cant believe we have dug ourselves this big of a whole. No matter what the number.

 

[C l u t c H 385]

Tell China to get their money from Haiti?

 

[Duck Rodgers]

Every single "official" economic number the government puts out is pure propaganda. I don't why anybody trusts these idiots any more.