Wednesday, April 6, 2011
Crisis in 2017?
From: http://www.bloomberg.com/news/2011-04-05/u-s-fiscal-crisis-in-spitting-distance-commentary-by-laurence-kotlikoff.html "CBO’s baseline budget updates suggest the date for reaching what Carmen Reinhart, Kenneth Rogoff and other prominent economists believe is a critical insolvency threshold -- a 90 percent ratio of federal debt held by the public to gross domestic product -- has moved four years closer, in just nine months! ... Last June’s analysis had us going critical (crossing the 90 percent debt-to-GDP threshold) in 2021. ... On March 18, when the CBO released a new forecast that incorporated the president’s budget, the 90 percent mark had moved up to 2017." Comment: I'm using a different metric and am still sticking to the 2021 date.
Posted by Nathan Vanderhoofven at 11:27:00 AM