'$4T Is A Joke, It'll Take $9 Trillion In Cuts To Fix U.S. Debt'

Dec 5, 2012 at 3:55 PM
DailyBail in Debt & Deficit, Fiscal Cliff, National Debt, bloomberg, debt, deficit, deficit, entitlements, federal debt, federal deficit, fiscal cliff, government spending, national debt, national debt watch, spending cuts, unfunded liabilities

Robert Litan, Bloomberg Government director of research, discusses the level of deficit reduction truly needed to stabilize the debt-to-GDP ratio in the U.S.  Short clip.

Baby steps in deficit truth-telling.

Of course, it's all a matter of perspective, since $9 trillion is a drop in the bucket compared to the $222 trillion unfunded liability.  And it's highly unlikely Washington will even agree to the $4 trillion number.  Too many purple unicorns still dance upon the fiscal stage in the brain-dead ineptocracy of Capitol Hill.

UPDATE - Blink! U.S. Debt Just Grew by $11 Trillion

http://usdebtclock.org/

 

Article originally appeared on The Daily Bail (http://dailybail.com/).