U.S. Debt $130 Trillion; Global GDP and Money Supply Both $60 Trillion?


Saturday September 11th, 2010   •   Posted by David Theroux at 8:32pm PDT   •  

Kevin Williamson at National Review has further discussed his June 2010 projections of total long-term, U.S. national debt being $130 trillion. In a 2008 Forbes article, economist Laurence Kotlikoff had more conservatively estimated the debt to be $70 trillion.

What Williamson points out now though is that both the total, money supply of the world as well as the entire global GDP are about $60 trillion:

“Meaning that the optimistic view is that our federal obligations outpace the entire annual economic output of human civilization. “So, John Boehner wants to roll spending back to where it was in the last year of the Bush administration. Okay, great. Nice start. “Now, what else have you got?”




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