America in Worse Fiscal Shape than Detroit-Professor Laurence Kotlikoff
Boston University Economics Professor, Laurence Kotlikoff, says, ‚ÄúThe country is in worse fiscal shape by many miles than Detroit. So, the country is essentially bankrupt.‚ÄĚ Dr. Kotlikoff estimates the long term debt and liabilities of America are more than $200 trillion! He is spearheading a bill in Congress called The Inform Act. It is an attempt to wake up the nation to our dire financial situation so something can be done to fix this enormous problem. Dr. Kotlikoff explains, ‚ÄúThe bill has been endorsed by over 1,000 economists, including 15 Nobel Prize winners in economics . . .Never in the history of this country have this many top economists from all political persuasions endorsed a piece of legislation like this.‚ÄĚ Dr. Kotlikoff and his fellow economists all contend, ‚ÄúThe country needs to do honest accounting.‚ÄĚ The professor charges the government is ‚Äúdisguising the true problem.‚ÄĚ Dr....
Keynesian "we'll be dead" spendthrift mentality is crushing the economy. The fruit of the "cradle to grave, chicken in every out" nonsense is coming to bear. The Nanny state experiment has run out of other people's milk to give those who did not work or earn it. Hello Greece!
Ah, it's time to re-establish my Independent credentials and show I can criticize Democrats. Detroit's decline didn't have to happen. One big problem is that Americans for quite awhile stopped buying American cars, and you can't tax companies that are making money, and firing workers. Just a little something that Cal should have mentioned.