Wednesday, August 25, 2010

America Is Finished: "Enron Accounting" Has Bankrupted Nation, Boston University Professor Claims REAL Deficit IS Actually $202 TRILLION Dollars!

America is a mess. The country is drowning in debt, and it continues to pour money into the foreign nation of Israel, as well as maintaining an un-winnable war in Afghanistan, "non combat" personnel in Iraq, and is about ready to launch a new war for their Zionist Jewish masters against the innocent country of Iran! The nation's infrastructure is crumbling, and citizens are losing their jobs by the hundreds of thousands per month. Could it get any worse?

Well, here comes a new article from, where a Boston University professor, Laurance Kotlikoff, is now claiming that the REAL US deficit is absolutely NOT the 13.3 Trillion dollars as claimed by the US Government, but is in fact around 202 TRILLION Dollars! Here is that article for my own readers to ponder:

"Enron Accounting" Has Bankrupted America: U.S. Deficit Really $202 Trillion, Kotlikoff Says

Posted Aug 23, 2010 07:30am EDT by Peter Gorenstein in Investing,Recession, Politics

The Congressional Budget Office (CBO) forecasts the U.S. budget deficit will hit $1.3 trillion this year. An astronomical figure, to be sure, but that’s lower than was projected in March. It’s also less than last year’s record $1.41 trillion deficit, which was close to 10% of GDP.

And, that's the good news.

As the deficit grows so does the national debt, which is currently more than $13.3 trillion, according to official figures.

But the situation is actually much, much worse, according to Boston University economics professor Laurence Kotlikoff.

“Forget the official debt,” he tells Aaron in this clip. The “real” deficit - including non-budgetary items like unfunded liabilities of Medicare, Medicaid, Social Security and the defense budget - is actually $202 trillion, the professor and author calculates; or 15 times the “official" numbers.

“Congress has engaged in Enron accounting,” says Kotlikoff, who recently penned an op-ed for Bloomberg entitled: The U.S. Is Bankrupt and We Don't Even Know It.

Yet, the debt market continues to have an insatiable appetite for U.S. Treasuries; heading into Monday's session, the yield on the 30-year Treasury bond (which moves in opposition to its price) was at its lowest level since April 2009.

Kotlikoff says that's because the market is focused on the "mole hill" of official debt. In time, the U.S. will have a major inflation problem to rival that of Germany's post World War I Weimar Republic, he predicts. “We have to think about the fact that unless the government gets its fiscal act in order we’re going to have the government printing lots and lots money to pay these enormous bills that are coming due over time.”

America is in need of major reform of the health-care, retirement, tax and financial system, Kotlikoff continues. “We need (to perform) heart surgery on this economy, not putting on more band-aids which is what we’ve been doing.”

Barring that, your hard-earned dollars will soon be worthless, he declares.

NTS Notes: The figure of 202 TRILLION dollars seems a bit far fetched as far as I am concerned. However, the "official" Government report of 13.3 Trillion dollars is obviously too low, considering that the recent total monies paid in the Government bailouts is actually around the 20 TRILLION dollar mark. I am firmly in the belief that the true deficit amount is somewhere between these two figures.

As I have stated before, it is so amazing that the American public has not demanded their own government come clean about the real truth about the deficit. Why have Americans allowed their criminal government to get away with this situation?

Again, as before, I have suggested that the only way to get the United States on the road to real economic recovery is to immediately END the Debt! The federal deficit, no matter how huge it really is, is owed almost exclusively to Zionist Jewish banking interests. Ending the debt and returning the printing of currency to the Government debt free would do wonders in fixing that once great nation and putting it back on its feet!

More to come


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