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

that's a dagger to the heart...

the creature from Jekyl Island is almost dead.

so what we can keep going like this forever

Wait till you try to cash your check.

Not really any stable pyramid structure needs a base with a perfect angle of repose of around 52 degrees. The current process is consolidating the structure into more of an obelisk. Obelisks have been known to tip over when the foundation get's undermined.

+1

DOES ANYONE HAVE ANY IDEA HOW MUCH 202 TRILLION IS?


GAZILLION, BUEZILLION, HUMPZILLION?

WHO FUCKING CARES............

yep, its just numbers

it's your money and your future.

IT WOULD CERTAINLY APPEAR THAT WAY.

UNTIL THE MASSES PANIC, OF COURSE, THEN THERE'S NO HOLDING BACK THE TIDE.

the massive panic will only happen if the feds allows to crash the whole system via constant negative news an manipulation. They are not ready yet,

Obama: "We're out of Money."
[link to www.c-span.org] [Warning: PDF]

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits

"The figure Walker cites includes future payments that government entitlement programs would have to pay, including $32 trillion owed by Medicare."
[link to www.cnn.com]

"Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon."
[link to www.dallasfed.org]

U.S. unfunded liabilities: over 109 Trillion dollars
[link to usdebtclock.org]

Bloomberg: U.S. Is Bankrupt and We Don't Even Know
Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.
Based on the CBO’s data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the official debt. This gargantuan discrepancy between our “official” debt and our actual net indebtedness isn’t surprising. It reflects what economists call the labeling problem. Congress has been very careful over the years to label most of its liabilities “unofficial” to keep them off the books and far in the future.
[link to www.bloomberg.com]

CNN-Money: Is this finally the economic collapse?
Now that the US can't cut interest rates any lower, the only option left on the table is what the Fed just announced it would start doing -- buying Treasury debt. And that could lead the country to the brink of collapse: According to economists Carmen Reinhart & Ken Rogoff, whose views we share, crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It's a point from which it's almost impossible to return.
[link to money.cnn.com]

Washington Post: Obama's debt commission warns of fiscal 'cancer' "that will destroy the country from within"
"We can't grow our way out of this," Bowles said. "We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can't tax our way out. . . . The reality is we've got to do exactly what you all do every day as governors. We've got to cut spending or increase revenues or do some combination of that."
[link to www.washingtonpost.com]

Your Future in 15 Seconds

[link to www.youtube.com]

the private equity sector and Blackstone Group is the next enron

[link to www.enterprisecorruption.com]

r

Enron info: [link to enronnext101.wordpress.com]

r

Gadzooks!

Merry Christmas Blackstone And Private Equity Or Should That Be Happy Holiday?

The Next Enron Is Already In Progress

[link to enronnext101.wordpress.com]