November 16, 2024
Toasted Nuts
Timothy Birdnow
Federal debt consumes no less than 93% of all of America's wealth, according to a U.s. Treasury report.
FTA:
There is no way to dig out from under this. Trump will putus on the right track and we'll do well for a time but we will not remain on that path. The key to success in our government is to blow money. Republicans are as bad as Democrats. The only people who want fiscal responsibility are a minority who live in flyover country; most city dwellers like their government checks too much.
We are SOOOOO toast!
Federal debt consumes no less than 93% of all of America's wealth, according to a U.s. Treasury report.
FTA:
The federal government has amassed $142 trillion in debts, liabilities, and unfunded obligations. This staggering figure equals 93% 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.
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.
There is no way to dig out from under this. Trump will putus on the right track and we'll do well for a time but we will not remain on that path. The key to success in our government is to blow money. Republicans are as bad as Democrats. The only people who want fiscal responsibility are a minority who live in flyover country; most city dwellers like their government checks too much.
We are SOOOOO toast!
Posted by: Timothy Birdnow at
12:05 PM
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