Quote:
Originally Posted by Brian Swartz
The federal government is insolvent and has been for a long time. Five years ago, stated liabilities were over $20 trillion. Assets were $3 trillion. So yes, you literally can get worse than being insolvent during an economic downturn. That's been the standard operating practice for the US government for decades (though I don't know the numbers on exactly when things went upside-down officially), to hit rock bottom and keep on digging even in prosperous times.
|
If we are insolvent (we aren't), we definitely shouldn't be giving away money.