Well-known investor and publisher and editor of Gloom, Doom and Boom report, Marc Faber was on CNBC to share his views on the U.S. economy, U.S. fiscal deficit and fiscal cliff and global economic environment. Here are his thoughts:
-- No matter who wins the election, the fiscal deficit will remain around $1.3 trillion dollars and will go up from here.
-- The media-published figure of $1.3 trillion dollars is not the correct figure. The 'true' fiscal deficit is more than $4 trillion annually if you take current accumulated non-funded liabilities into account.
Here is the video: