U.S. Fiscal Meltdown in Spitting Distance: Laurence Kotlikoff
April 5th, 2011
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The two parties are having a heated debate over the Republican plan to slice $ 61 billion off Uncle Sam’s projected $ 3.6 trillion budget. If the Republicans get their way, the deficit will fall from 9.5 percent of gross domestic product to 9.1 percent. If they don’t, they’ll probably shut the government for a couple of days. Then they’ll compromise on, say, a $ 40 billion budget cut, having proved they gave it their best shot.
BusinessWeek.com — Finance