The Globe and Mail has a piece onLaurence Kolikoff’s assessment of the U.S. fiscal situation, and it’s not pretty. The official estimate is that government debt is about 60% of GDP ($13.5-trillion). Kotlikoff says “Let’s get real,” and puts the figure at more like $200 trillion.
For those of you that want to go straight to the source, Kotlikoff lays out his case in the IMF publication, Finance & Development.