There's an ongoing discussion on math sites about Vladimir Voevodsky's Fall 2010 lecture expressing doubts that math is consistent, i.e. doubts that it is not possible to deduce formally correct proofs of false statements starting from standard axioms.
I'm rather skeptical of that possibility. There are diverse proofs of the consistency of Peano Arithmetic's in systems just outside that, i.e. in epsilon_zero or in second order arithmetics.
Incidentally Voevodsky talks about Gentzen's proof in the video.
I read the statement "I doubt PA is consistent" as a shorthand for "I have radical doubts about the consistency of modern foundations, up to and including the induction schema in PA. It might be possible to write a formally valid proof of a false statement." So the fact that there exist formally valid proofs of consistency is not that relevant.
More relevant are objections like "in that case wouldn't planes fall out of the sky?" or "what role could mathematicians and mathematics have in the world then?" These are the kinds of questions Voevodsky is addressing in the video.