The United States is Insolvent

December 20th, 2006

And somehow, the band plays on…

Via: Financial Sense University:

Despite improvement in both the fiscal year 2006 reported net operating cost and the cash-based budget deficit, the U.S. government’s total reported liabilities, net social insurance commitments, and other fiscal exposures continue to grow and now total approximately $50 trillion, representing approximately four times the Nation’s total output (GDP) in fiscal year 2006, up from about $20 trillion, or two times GDP in fiscal year 2000.

Posted in Economy | Top Of Page

3 Responses to “The United States is Insolvent”

  1. PeakEngineer says:
    December 20, 2006 at 11:02 pm

    And the press ignores it…totally, completely. If you don’t believe in media complicity in the crises we face, believe it now.

  2. fallout says:
    December 21, 2006 at 5:11 pm

    Makes sense….when you can’t pay the bills, just borrow (and spend) more. After all, it’s a problem for later, right?

  3. George Kenney says:
    December 23, 2006 at 9:17 pm

    Does anyone else see that the insolvency and expansion of war are related?

    The guys at the Fed know that their credit bubble expansion and resulting collapse of the Great Depression was solved by massive war spending in WWII.

    The only way out of the current credit bubble and impending collapse is massive ramping of the macroeconomic stimulus called WWIII.

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