by Simon Black
I’ve long-stated that the government of the United States is completely insolvent.
And that is 100% true statement.
The government’s own numbers show that official liabilities, including debt held by the public and federal retirement benefits, total $20.7 trillion.
Yet the government’s assets, including the value of the entire federal highway system, the national parks, cash balances, etc. totals just over $3 trillion.
In total, their ‘net worth’ is NEGATIVE $17.7 TRILLION… a level that completely dwarfs the housing crisis.
If you include the government’s own estimates of the Social Security shortfall, this number declines to NEGATIVE $60 TRILLION.
And it gets worse every year.
In a nut shell…
“More importantly, though, isn’t it a little bit scary to consider that the government’s #1 asset is its ability to steal money from you?”
And the answer is…..
” --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, ”
Average Joe