John Williams – The US Government is Insolvent

John Williams – The US Government is Insolvent

With the US government reporting financials, it seemed important to turn to John Williams of ShadowStats for an honest breakdown. John had this to say, “For 2010, gross federal debt was 94% of GDP, and total federal obligations were 443% (official) or 529% (alternative) of GDP, depending on the number used.  The difference, though, is not material, as either ratio leaves the U.S. government insolvent over the long haul.
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