How Close Is America to Fiscal Crisis?

Submitted by Larry Kotlikoff on Fri, 02/25/2011 - 10:05

THE US has a fiscal gap—the present value of all its future spending (including servicing its official debt) less all its future taxes of $202 trillion—almost 14 times GDP. Greece, by comparison, has a fiscal gap of about 11 times GDP. To close the US fiscal gap would require raising all federal taxes, immediately and permanently by almost two thirds!

Is the Modern Central Bank In Need of Reform?

Submitted by Larry Kotlikoff on Fri, 02/25/2011 - 10:03

CENTRAL banks aren't the problem. The problem is the financial system that the central banks are charged with protecting. That system is fundamentally corrupt, not because of the bad apples it attracts, but because it operates in the dark with extremely limited disclosure and transparency. Proprietary information is the ultimate villain and cause of our financial meltdown.

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