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Monday, May 07, 2012

"Shattering The American Dream": The US Government's Ponzi Scheme

While Larry Kotlikoff was markedly pessimistic in the past (as we noted here just over a year ago), it seems it was a dress-rehearsal to his latest evisceration of what he now calls the US Government's Ponzi Scheme. In a recent VoxEU article on America's "fiscal child abuse", Kotlikoff and two colleagues demolish the idea of sustainability of government finances and how well off younger generations will be compared with their parents. The game is close to over and for today's children, the American dream will be just that - a dream!

1 comment:

Anonymous said...

I just don't get it why can't these kids pay off their college loans, I mean I did it back in 1985 when the economy wasn't in the most terrible state it could be besides a depression. Sarcasm by the way.....and we wonder why?