Kick in state and local promises and debts and the number is probably greater than 100 percent, which means the nation has a negative net worth. From James D. Agnesti at The Epoch Times via zerohedge.com:
Based on data from a U.S. Treasury report, the federal government has amassed $142 trillion in debts, liabilities, and unfunded obligations. This staggering figure equals 93 percent of all the wealth Americans have accumulated since the nation’s founding, estimated by the Federal Reserve to be $152 trillion.
Unlike other measures of federal red ink that cover an arbitrary period, extend into the infinite future, or ignore government resources, the figure of $142 trillion applies strictly to Americans who are alive right now and includes the government’s commercial assets. Thus, it quantifies the financial burden that today’s Americans are leaving to their children and future generations.
Complete Versus Incomplete Accounting
Federal law requires the U.S. Treasury to publish an annual report that details the government’s “overall financial position.” In addition to the national debt, the “Financial Report of the United States Government” also includes the government’s explicit and implicit financial commitments, such as:
• federal employee pensions and other retirement benefits like healthcare.
• environmental liabilities like contaminated nuclear sites.
• unfunded obligations for social insurance programs like Medicare.
Such “fiscal exposures,” as explained by the U.S. Government Accountability Office (GAO), “represent significant commitments that ultimately have to be addressed.” Thus, GAO stresses that ignoring them can “make it difficult for policymakers and the public to adequately understand the government’s overall performance and true financial condition.”
Found a spent state “summer” EBT card during early AM Area Study with an All-American sounding name (sarc) on it.
Didn’t know there was such a thing.
Will the controllers sell off the lock, stock and barrels that they already own?
Such greed to want to own US when they already have it all.
We have blown past Greece levels of debt service?
The EU will bail us out? (LMFAO!)
I think we’re going to need a bigger printing press for the CBDC LARP and give Trump some credit he says NO to state controlled digi currency but yes to Bitcoin.
This just in from Carly Simon:
Nobody Does It Better