Laurence Kotlikoff: “The US Fiscal Gap Is $200 Trillion… Our Country Is broke”

Wednesday, September 11, 2013
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/11/2013

“I estimate the US fiscal gap at US$200 tn, 17 times the reported US$12 tn in official debt in the hands of the public…. Our country is broke. It’s not broke in 50 years or 30 years or 10 years. It’s broke today. Six decades of take as you go has led us to a precipice. That’s why almost the entire economics profession is talking as one at www.theinformact.org. Economists from all political persuasions are collectively sending our government a warning about what is, effectively, a nuclear economic bomb. I’ve been around economics for a long time. I’ve never seen such a strong response to a proposed Congressional bill. This is the profession sending a statement to the President and Congress that’s not unlike the warning physicists sent via Einstein to Roosevelt about the bomb.” Larry Kotlikoff

The Rest…HERE

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