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News Link • Economy - Economics USA

US $60 trillion in debt

• NY Post

How bad is the nation's debt problem?

While the official number -- $13.4 trillion, according to the Congressional Budget Office -- is frightening enough, some analysts say the actual figure is much, much higher. Like a shopaholic who hides their credit card bills, the government pretends certain obligations and expenditures don't exist. Uncle Sam really owes closer to $60 trillion, or more, and the country is close to bankrupcy.

"The government is lying about the amount of debt," says Laurence Kotlikoff, an economist at Boston University


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