Professor Laurence Kotlikoff is a Professor of Economics at Boston University, and more. He says he has used standard practices to arrive at what he calls, “The fiscal Gap”. That is the difference between America’s assets and liabilities, according to the Congressional Budget Office. Below is a fairly long interview with him in which he explains.
In the video he makes a couple of important assertions, the most important being the point that, “Congress has accumulated all these liabilities off the books, and they’re called Social Security, Medicare, Medicaid, defense spending.” He has more to say in the video that I won’t try to recite here. It’s all important stuff.
Even if the numbers are off a bit does anyone believe that he’s wrong?
I found this here. At the link there is a lot more and a couple more videos which do not induce more economic confidence.