Quantcast
Feeds: Email, RSS & Twitter

Get Our Videos By Email

Powered by Squarespace

 

 

Search The Daily Bail Archive Of 15,000 Videos

SEARCH THE DAILY BAIL

SPONSORED BY  

 

Hank Paulson Is A Criminal - Pass It On

Bernanke's Failures Caught On Tape

"The Federal Reserve Is A Ponzi Scheme"


Get Our Videos By Email

THE FED UNDER FIRE: Must See Clip

Bernanke's Replacement: Happy Hour In Santa Cruz

Must See: National Debt Road Trip

"Of Course We're Not Going To  Payback the Chinese."

Dave Chappelle On White Collar Crime

Carlin: Wall Street Owns Washington

SLIDESHOW - The 11 States Most Likely to Go Bust

SLIDESHOW - 7 Really Big Holes - Don't Miss #7

SLIDESHOW - Molotov Cocktails In Greece

SLIDESHOW - The Sights, Sounds & Women of Texas

SLIDESHOW - Genius Signs From Irish IMF Protest

SLIDESHOW - Egyptian Revolution - Graphic PICS

SLIDESHOW - U.K. Student Riots

SLIDESHOW - Airport Security Cartoons - TSA

Most Recent Comments
Cartoons & Photos
SEARCH
« Fed Officials Led By Greenspan Saw Housing Bubble in 2005, Didn't Alter Policy - Newly Released FOMC Minutes | Main | HISTORY LESSON: What became of the 56 men who signed the Declaration of Independence? »
Sunday
Jul032011

PIMCO's Bill Gross: "The U.S. National Debt Is $100 Trillion, We Are In Worse Financial Shape Than Greece" (Video)

CNBC Video - Bill Gross on the U.S. Fiscal Nightmare - June 13, 2011

When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco's Bill Gross told CNBC Monday.

Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.

The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.

Taken together, Gross puts the total at "nearly $100 trillion," that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won't find a solution overnight.

  • "We've always wondered who will buy Treasurys" after the Federal Reserve purchases the last of its $600 billion to end the second leg of its quantitative easing program later this month, Gross said. "It's certainly not Pimco and it's probably not the bond funds of the world."
  • "To think that we can reduce that within the space of a year or two is not a realistic assumption.  That's much more than Greece, that's much more than almost any other developed country.  We've got a problem and we have to get after it quickly."

Read more at CNBC...

---

 

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (11)

The American Revolution Begins With The Kick Off Of Operation Empire State Rebellion – Activists Take Over Liberty Park

http://blog.alexanderhiggins.com/2011/06/14/activists-occupy-financial-districts-liberty-park-demands-met-operation-empire-state-rebellion-begins-activists-liberty-park-27051/
Jun 14, 2011 at 1:12 PM | Registered CommenterDailyBail
Why wind farms will have to shut down for 38 days per year ... when it gets too windy

http://www.dailymail.co.uk/sciencetech/article-2003306/Wind-farms-shut.html#ixzz1PGtLed4z
Jun 14, 2011 at 1:13 PM | Registered CommenterDailyBail
Which GOP candidate are you leaning towards voting for right now?

http://www.cnbc.com/id/43357380

POLL - Still Open

Ron Paul leads by a longshot...
Jun 14, 2011 at 1:14 PM | Registered CommenterDailyBail
WOW! he is ahead 4.5 times the entire field COMBINED.......
Jun 14, 2011 at 1:28 PM | Unregistered Commenterjohn
yes...but in fairness, ron paul websites are linking to the poll...so the data is skewed...but i still like seeing it...
Jun 14, 2011 at 1:45 PM | Registered CommenterDailyBail
Funny how we can always find money for wars and Israel. I repeat myself
Jun 14, 2011 at 5:08 PM | Unregistered Commenterrobertsgt40
we find money for everything...wars, israel, corporations, egypt, africa, latin america...so far nothing is facing cuts...it's nothing but a giant game of talking about cuts in dc...
Jun 14, 2011 at 7:44 PM | Registered CommenterDailyBail
Humpty Dumpty is about to take his fall...
...and all the kings men couldnt put Humpty Dumpty back together, again.
Jun 14, 2011 at 10:01 PM | Unregistered Commenterdippitydoodah
beware,any fool who lumps in social security as government debt/giveaway is a lying bum and one to mock&discard!!!yes the american economy is in shambles,but not because of "entitlements" like the fully funded by workers like you&me social security!!!!!!!
Jun 15, 2011 at 9:46 AM | Unregistered Commenterkeeperofthefire
Just got hired!! Timmy & Benny said my first job is to start printing $ 100 TRILLION & it's OK keep as much as I can carry in my pockets.
Jul 3, 2011 at 6:03 PM | Unregistered CommenterTR
The U.S. national debt is ZERO dollars, because it is owed in dollars. Idiots.

It's like saying the bowling alley owes you a trillion points. They can give you a zillion points if they want, there's no limit, really.
Jul 4, 2011 at 5:35 AM | Unregistered CommenterBenjamin

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.