Economist Calls Entitlements A Massive Ponzi Scheme And Says US Is Actually $211 Trillion In Debt

In an interview with NPR, former Reagan economic adviser Laurence Kotlikoff said the U.S.'s "true indebtedness" amounts to $211 trillion. That's more than 15 times the $14 trillion official figure. "We're focused just on the official debt, so we're trying to balance the wrong books," Kotlikoff said, naming Social Security, Medicare, and Medicaid for the skyrocketing unofficial figure.

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