Premiered on Mar 22, 2023
Our special guest is Professor Lawrence Kotlikoff, an economics professor at Boston University and ranked by The Economist magazine as one of the world’s 25 most influential economists. Larry is also the President of Economic Security Planning, Inc. and the founder of Maximize My Social Security and MaxiFi.
We spoke about different investment strategies, ways for governments to grow their GDP to fund their unfunded liabilities, some interesting solutions to the healthcare costs crisis, ways in which technology can create prosperity, and more.
In part two of the series with Larry Kotlikoff, a Boston University professor and influential economist, the discussion focused on Social Security and Medicare reform. The United States is facing a debt crisis with a debt to GDP ratio of 94%, including off-the-books liabilities and obligations such as defense spending, infrastructure maintenance, and transfer payments to citizens. Social Security alone has a fiscal gap of $61 trillion, which is much higher than the official debt of $22 trillion. In order to address this problem, Kotlikoff suggests reorganizing and making the system more efficient, such as reducing healthcare spending from 18% of GDP to 11%, which would save 7% of GDP and solve the fiscal gap problem. Raising taxes and cutting spending are politically and economically unfeasible solutions.
To learn more about professor Kotlikoff, visit: