Friday, March 06, 2009

Is the United States Bankrupt? St. Louis Federal Reserve

The United States may be going broke. Consider Gokhale and Smetters’s analysis of the country’s fiscal gap, which measures the present value difference between all future government expenditures and all future receipts. fiscal gap is a stunning $65.9 trillion - more than five times U.S. GDP & twice the national wealth.

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