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U.S. May Be in ?Worse Fiscal Shape? Than Greece?
Too big to fail syndrome is at play and The World Central Banks are all in the derivative game! it's all been planned that way ! Believe it or not!
serf
http://cnsnews.com/news/article/barbara-hollingsworth/economist-tells-congress-us-may-be-worse-fiscal-shape-greece
After all, federal debt in the hands of the public is only 74 percent of GDP. Yes, this is double the debt-to-GDP ratio recorded a decade ago. But it's still a far cry from Italy's 135 debt-to-GDP ratio or Greece's 175 percent ratio."
However, using the Congressional Budget Office's July 2014 75-year Alternate Fiscal Scenario projection, Kotlikoff calculated that the U.S.' "fiscal gap" -which he defines as "the difference between our government's projected financial obligations and the present value of all projected future tax and other receipts" - is actually much higher than those of either Italy or Greece.
serf
http://cnsnews.com/news/article/barbara-hollingsworth/economist-tells-congress-us-may-be-worse-fiscal-shape-greece
After all, federal debt in the hands of the public is only 74 percent of GDP. Yes, this is double the debt-to-GDP ratio recorded a decade ago. But it's still a far cry from Italy's 135 debt-to-GDP ratio or Greece's 175 percent ratio."
However, using the Congressional Budget Office's July 2014 75-year Alternate Fiscal Scenario projection, Kotlikoff calculated that the U.S.' "fiscal gap" -which he defines as "the difference between our government's projected financial obligations and the present value of all projected future tax and other receipts" - is actually much higher than those of either Italy or Greece.