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Detroit May Be Bankrupt, but as an American, You’re Not

Earlier on this page, our regular Social Security columnist Larry Kotlikoff argued in favor of “generational accounting” and the recently introduced Intergenerational Financial Obligations Reform Act (INFORM Act), which he helped draft and which has garnered the support of 11 Nobel laureates in economics. He claims that Uncle Sam is grossly underestimating America’s official debt and borrowing from future generations of Americans. Read more.

 

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