Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
07-27-2010, 12:55 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Confirmed: U.S. Fiscal Woe Is Worse Than Greece
Confirmed: U.S. Fiscal Woe Is Worse Than Greece
Interest-Rates / US Debt
Jul 27, 2010 - 03:41 AM
By: Dian_L_Chu
Reading the annual Long Term Budget Outlook by the Congressional Budget Office (CBO) has become an increasingly depressing experience in recent years. This year seems even more so than ever.
The latest projection puts the federal debt rising to 62% of the nation’s Gross Domestic Product (GDP) by the end of the year (from 40% pre-crisis), the highest percentage since just after World War. (See Graph)
Despite the gloomy projections, many economists seem to agree that a Greek style debt crisis is unlikely to take place in the U.S. due to the size of the economy, the single currency structure and dollar prestige.
After all, Greek debt totals 120% of GDP--twice the US figure--plus a comparison of the long-term bond yield, seem to suggest that the U.S. is in much better fiscal shape.
Or do they?
In a Financial Times op-ed http://www.ft.com/cms/s/0/1a695e1a-981c ... ab49a.html dated July 25, Laurence Kotlikoff, economics professor at Boston University, contends due to the “labeling problemâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
BORDER INSANITY: Illegal Immigrants Now Working With Criminal...
05-11-2024, 09:19 AM in illegal immigration News Stories & Reports