Potomac League LLC Potomac League LLC
"The government doesn't have any money.” "The government doesn't have any money.”
“People seem to think the government has money," said former U.S. Comptroller GeneralDavid Walker. "The government doesn't have any money.”
Carol Lochead, “Concern grows over a fiscal crisis for U.S.”
•Under the Obama Administration’s proposal, using fairly optimistic assumptions about thefuture performance of the economy, the debt-to-GDP ratio would grow to 77 percent over thenext decade. However, the United States Debt to GDP Ratio is likely to reach 94% much,much sooner.•When gross external debt reaches 60 percent of GDP, annual growth declines by about twopercent; for levels of external debt in excess of 90 percent of GDP, growth rates are roughly.growth outcomes… Seldom do countries simply “grow” their way out of deep debt burdens.
Carmen Rheinhart and Kenneth S. Rogoff,
Growth in a Time of Debt,”
American Economic Review Papers and Proceedings
, 31 December 2009.
,the costs of current or future benefits. Unfunded liabilities are sky-rocketing.•“
Social Cohesion Social Cohesion
,” the condition that makes the USA a safe investment, is at risk.