Subject opinion to coercion: whom will you make your inquisitors? Fallible men, governed by bad passions, by private as well as public reasons. And why subject it to coercion? To produce uniformity? But is uniformity of opinion desirable? No more than of face and stature.

- Thomas Jefferson

But it Sounds Nice

All of those obligations of the government, those entitlements politicians give away to buy your vote. Where have they led us? Bankruptcy?

A newly published paper by a researcher for the Federal Reserve Bank of St. Louis warns that a ballooning budget deficit and pension and welfare timebomb is growing into a $65.9 trillion fiscal gap that will force the United States into bankruptcy.

In the view of Prof. Laurence Kotlikoff of Boston University, the U.S. is already bankrupt at least the government is.

"The U.S. government is, indeed, bankrupt," he writes, "insofar as it will be unable to pay its creditors, who, in this context, are current and future generations to whom it has explicitly or implicitly promised future net payments of various kinds."
[Read]

Perhaps a fiscal conservative will run for office some day.

posted at 08:56:46 on 07/16/06 by clearpolitics - Category: Economics - [Permalink]

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Comments

Kyler wrote:

Could you help me. A mother is not a person to lean on but a person to make leaning unnecessary.
I am from France and also now am reading in English, please tell me right I wrote the following sentence: "Cheap travel - finding cheap flights, cheap hotels gets even easier."

With love 8), Kyler.
03/27/09 04:34:10

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The Gross National Debt