America is Bankrupt?

[DutchmanAZ]

I don't know about now, but I see it coming. Spending our way out of debt???? how's that supposed to work?

U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff


....."Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.....

http://www.bloomberg.com/news/2010-...en-know-commentary-by-laurence-kotlikoff.html

 

[Divide Et Impera]

Spending our way out of debt???? how's that supposed to work?

The same way it works for kids going to college and graduating with $80,000 in debt so that they can get that six-figure job. The same way it works for a start up business that runs in the red for the first two years thanks to debts related to capital (PPE) and start up costs....

 

[DutchmanAZ]

True DEI but there are hard limits imposed on us that limit the overall damage should we fail. I don't see any limits (i.e. raising taxes, cutting spending, etc) being seriously considered by our government.

How much $$ are we the taxpayer willing to pay? The article raises a few interesting methods that may fix the problem, but do we collectively have the tolerance?

Denninger had a few interesting methods too.

http://market-ticker.denninger.net/akcs-www?singlepost=2145156