World-News

"Enron Accounting" Has Bankrupted America: U.S. Deficit Really $202 Trillion, Kotlikoff Says

By Peter Gorenstein

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.

http://www.informationclearinghouse.info/article26242.htm



Morgan Stanley Says Government Defaults Inevitable

By Matthew Brown

Investors face defaults on government bonds given the burden of aging populations and the difficulty of increasing tax revenue, according to a Morgan Stanley executive director.

http://www.informationclearinghouse.info/article26244.htm

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Global economy death spiral
http://www.brasschecktv.com/page/920.html

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The deficit is a symptom, spending is the disease

Cato Institute
by Michael D. Tanner

08/25/10

Sometime in the next week or so, the U.S. national debt will exceed $13.4 trillion. To put that in perspective: If you earned $1 every second, it would take you 425,000 years to earn enough money to pay off that debt. And it’s not likely to get much better any time soon...

http://www.cato.org/pub_display.php?pub_id=12088


Informant: Thomas L. Knapp



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