Boston University economist, Laurence Kotlikoff, has said that the U.S. is in worse fiscal shape than any developed country including Greece. Speaking to the Senate Budget Committee on February 25th, 2015 Kotlikoff warned, “The first point I want to get across is that our nation is broke … Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today.”
Tip of the Hat to Contributing Editor Berto Jongman.
Phi Beta Iota: This is not new. David Walker, then Comptroller General of the USA, told Congress the same thing for the last several years of his tenure before resigning in 2008, in year nine of his fifteen year appointment. Walker then spent seven years trying to educate the public, to no avail. Now Walker, older and wiser, is running for a Senate seat as an independent, and he has finally realized that Electoral Reform, not the budget, is the center of gravity. Kotlikoff, like all the others running for President or pursuing their important but tactical issues, does not see that there is no way the existing two-party Congress will become honest in his lifetime. Only a unified focus on Electoral Reform, now in 2015, in time to blow open the ballots for all Independents and small party and unaffiliated candidates in 2016, will do. We value what Kotlikoff — and Walker before him — are focused on, but for them to succeed eventually, we must first all come together and succeed at restoring integrity to our government with electoral reform.