Page 44 - Why We Want You To Be Rich - Donald Trump, Robert Kiyosaki.pdf

38 I CHAPTER Two

In the green room, that day in Dallas, I drew the following diagram:

INCOME

ExPENSES

AssETS LIA8ILmES
Social Security$10 T
Medica" $62 T

"You're saying it's $72 trillion in off-balance sheet obligations?" Donald
asked. "Says who ?"
"Two economists;' I replied. "In 1994, Kent Smetters and Jagadeesh
Gokhale painstakingly spent the time to compute how much, as of 1994,
our government's obligations to the American people were."
"That's a lot ofmoney:' said Donald.
"That's more money than all the money in all the bond and srock
markets in the world," I said. "I believe the value ofall srocks on the world
srock markets as of 2000 was around $36 trillion and the value of all the
bonds on the bond markets of the world was only abour $31 trillion. We
owe our people more than all the money in the srock and bond markets
combined."
"I knew it was bad;' said Donald, "bur not this bad. We can't pay it."
"Only if we print more money, which would wipe our the savings of
everyone. One possibility is hyperinflation, bur that wouldn't really solve
the problem. Not onlywould savings be wiped out, people on fixedincomes
would also be wiped out."

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