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News Link • Economy - Economics USA

Debt crisis looming as Washington 'hides the real fiscal cliff numbers’

• Russia Today
 

 

The US national debt is twenty times higher than is officially reported, approaching $222 trillion, and today’s children could soon be paying their parent’s debts, reputed American economist Laurence Kotlikoff told RT.

­According to Kotlikoff, the true extent of the growing fiscal gap has been concealed by Washington for years, a process that could ultimately result in debt disaster: China and Japan, top American money-lenders, could simply stop the cash flow. 

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