One guess as to who is on the hook for that negative $75 trillion. From Simon Black at sovereignman.com:
Usually around the middle of February each year, the US Treasury Department releases an annual report of the federal government’s financial condition.
It’s called the Financial Report of the US Government… and it looks a lot like an annual report that you might see filed by a big company like Apple or Facebook.
Except that, unlike Apple and Facebook, the US government’s annual report is absolutely gruesome.
This year’s report is no exception, save for one humorous anecdote: they -just- released it. In other words, they’re a month and a half LATE (given that the report is typically released in mid-February).
I actually CALLED the Treasury Department myself in early March, asking when they would publish the report.
The bewildered individual on the other end of the line said that he had no earthly idea, given that the government had been shut down for so long earlier this year.
Anyhow, if you want to see the report for yourself, you can download it here.
