Monday, April 22, 2013

Marc Faber : If the U.S. Government was a Company, the deficit would be $5 Trillion

Marc Faber : “I think the problem in most countries,” he says, “ is a political problem. You have, essentially, large mandatory expenditures...and as a percentage of the population, less and less people working. And so these unfunded liabilities...accrue at a very fast pace.”
“If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.” - in a recent interview with Porter Stansberry


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