US 'could be going bankrupt'

This article in Britain’s high circulation Daily Telegraph, under the above headline, is their ‘most viewed story’ at the moment.

Fascinating with everything that is happening in Britain and the Middle East they can’t get enough of US bad press.

The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.

A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a leading constituent of the US Federal Reserve.