United States Is Bankrupt

Bloomberg this morning published an editorial by Laurence Kotlikoff with a pretty stark headline suggesting that the United States is bankrupt. The respected Boston University economist is not making wildly radical claims, but quoting and referencing the analysis of the International Monetary Fund and the Congressional Budget Office.

It is refreshing to see our nations unsustainable entitlement programs described clearly in the main stream media as exactly what they are – Ponzi Schemes. The longer Congress avoids reality, the more likely the mess they have created will end very badly.

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Filed under Economic Policy, Politics

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