'The federal finances look like a household budget in freefall.

That household earns $52,446 and spends $73,378 — running a $20,932 annual deficit.

Its total liabilities and unfunded promises amount to $1,361,788 against just $60,554 in assets, leaving it $1.3 million in the hole.

Uncle Sam, by any accounting standard, is insolvent.'

(but let's spend a billion a day on Iran)

#USA #Insolvent #Broke
@blogdiva

i agree, but i dont think the government will solve the problem. The government is the problem, especially since 2008. Its the means by which the wealthy get socialism for the rich

Voting is begging them to change - it wont work. We have to do it ourselves and while organizing is and must be an ongoing effort, supply chains at anonymous scale need some form of currency to organize and we must adopt something they cant print to prevent becoming socialism for the rich again

The federal government, as a sovereign country, cannot really go bankrupt; the real issue is that our fiscal policy is gravitated towards private exploitation and accumulation of profits by fewer and fewer people. Redistribution from the wealthiest to the masses and socialization of the economy towards public/social needs rather than private grift and exploitation is the only real solution.

I hate this article. The government straight up *can not* pay off the debt. Because the money supply is to first order equal to the debt. If they paid off the debt they'd have to tax all money out of existence. Then the whole country would collapse into a depression worse than the great depression. The govt debt is truly a meaningless number.

"as voluntary as spanish inquisition."

yeah, it should apply for super rich.