Brief, but stunning commentary piece in the Fortune. They make a great analogy that’s easy to remember: I was also really surprised by this: They can’t even admit the US government is running on...
Brief, but stunning commentary piece in the Fortune.
They make a great analogy that’s easy to remember:
Most people cannot relate to trillion-dollar figures on a government ledger. So consider this: divide every number by 100 million — drop eight zeros — and 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.
I was also really surprised by this:
The Government Accountability Office (GAO) issued a disclaimer of opinion on the U.S. government’s FY 2025 financial statements — the 29th consecutive year it has been unable to determine whether the statements are fairly presented.
They can’t even admit the US government is running on borrowed time, money, and goodwill – and it’s been like that since the turn of the century!
One really does wonder if and when it all comes crashing down, US dollar and rest of the world included.
Balancing the budget is so politically unpopular we're seeing politicians rather let the country burn and pretend it's ok than actually trying to fix things. This has been overdue with US spending...
Balancing the budget is so politically unpopular we're seeing politicians rather let the country burn and pretend it's ok than actually trying to fix things.
This has been overdue with US spending going up and up and up and up. Just printing more money will not bridge this gap.
Brief, but stunning commentary piece in the Fortune.
They make a great analogy that’s easy to remember:
I was also really surprised by this:
They can’t even admit the US government is running on borrowed time, money, and goodwill – and it’s been like that since the turn of the century!
One really does wonder if and when it all comes crashing down, US dollar and rest of the world included.
Balancing the budget is so politically unpopular we're seeing politicians rather let the country burn and pretend it's ok than actually trying to fix things.
This has been overdue with US spending going up and up and up and up. Just printing more money will not bridge this gap.