SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: i-node who wrote (751457)11/6/2013 12:19:57 PM
From: bentway  Read Replies (1) of 1577194
 
The US Balance Sheet Is Just Fine: Misleading To Say US Is “$16 trillion in the hole.” Cullen Roche explains why it is misleading to say that the US is “$16 trillion in the hole.”

“For starters…total fossil fuel resources owned by the Federal government are valued at over $150 trillion alone… I haven’t even looked into the huge amount of federally owned land and buildings that would surely amount into the hundreds of billions if not trillions of dollars. There’s also the gold resources. And there’s the trillions of dollars in its own liabilities that it owns via the Fed and Social Security funds.”

“And none of this even touches on the operational realities behind the United States monetary system and the fact that we’re not going bankrupt unless we choose to go bankrupt. So don’t fret. The United States is not in the hole. Not even remotely close.”

Of the money we owe, most is from Reagan/Bush borrowing. Wars are not free and tax cuts increase borrowing.

Even worse, you hear Republicans complain about said debt even though they voted for their “responsible” politicians who spent the money and would gladly let defaults they created increase the interest we pay on our debts. The cycle of GOP stupidity is epic.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News