"The U.S. #government is insolvent.

[zhizhu@newsie.social]

"The U.S. #government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the #Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total #media silence. The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025."
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/

#DonaldTrump #Trump #GOP #Politics #USPol #Finance #Economics #News #US #USA #UnitedStates #America #Debt #deficit

[alex_p_roe@mastodon.world]

@ZhiZhu @politics So Trumpty has managed to bankrupt the USA?! Not unexpected.

[zhizhu@newsie.social]

"Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security & Medicare...

The government’s consolidated balance sheet position... deteriorated by nearly $2.07 trillion between FY 2024 & FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets."
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/

#DonaldTrump #Trump #GOP #Politics #Economics #News #US #USA

[ajn142@infosec.exchange]

@alex_p_roe @ZhiZhu @politics

Reading the report it sounds like this isn’t new, though it is accelerating. That and the fixation on simplifying this down to a “household” budget makes me believe this is some Chicago School wankfest.

[zhizhu@newsie.social]

"The #Government Accountability Office (GAO) issued a disclaimer of opinion on the U.S. government’s FY 2025 financial statements — the 29th consecutive year it has been unable to determine whether the statements are fairly presented. This is primarily due to serious, ongoing financial management problems at the Dept of Defense [which failed EVERY audit ever given it] and weaknesses in accounting for interagency transactions"
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/

#Trump #Politics #Military #News #US #USA

[nom@mk.spook.social]

@ZhiZhu@newsie.social Sit back and enjoy it. American assets are huge in the long term boomers are competing for the easy resources right now but will all be DEAD soon.

Surpluses doth await.

[glc@mastodon.online]

@ajn142

Yep, you got it in one try.

[thedailyburble@mastodon.social]

@ZhiZhu
If true, I doubt they "missed" it. They've "missed" an awful lot whilst the world turns around them.

[the5thcolumnist@mstdn.ca]

@ZhiZhu

But what does this mean. I seem to remember reading an article stating this is normal for governments because of what is not included under assets.

[ghostonthehalfshell@masto.ai]

@ZhiZhu

Meep meeep false narrative, warning, meep meep

Calling all #mmt responders to immediately put out the deficit pants on fire.

[ghostonthehalfshell@masto.ai]

@alex_p_roe @ZhiZhu @politics

#mmt
You. Can’t. Bankrupt. A. Currency. Sovereign.
#mmt

But it can default by choice.

[steve_zeke@freeradical.zone]

@GhostOnTheHalfShell @ZhiZhu

Of course I agree with ghost. I’ll recycle this from couple days ago

https://freeradical.zone/@steve_zeke/116282221800171809

[steve_zeke@freeradical.zone]

@GhostOnTheHalfShell @ZhiZhu

Or this one from a few days earlier

https://freeradical.zone/@steve_zeke/116263163714466548

[ghostonthehalfshell@masto.ai]

@steve_zeke @ZhiZhu

It is ironic that Bill Clinton and his budget surpluses arguably set up for recessions

[steve_zeke@freeradical.zone]

@GhostOnTheHalfShell @ZhiZhu

I wouldn’t say “ironic” but rather that public surplus is private deficit… sector balances!

Here’s a classic. 13 years ago:

https://neweconomicperspectives.org/2013/12/dr-keltons-graduate-macro-students-video-project.html

Or straight to video if you prefer

https://m.youtube.com/watch?v=pCrn4lfwQLc

[pomegranate_stew@kind.social]

@glc @ajn142

Yes, surely getting rid of social security will solve the nation’s financial woes.

Every damn time with these guys.

E:’

[freequaybuoy@mastodon.social]

@ZhiZhu He moved on it like one of his businesses

[dukeduke@mastodon.social]

@ZhiZhu Bankrupting the US is a feature, not a bug. And Trump is just the circus freak put out front to distract us.

[racingdaily@mastodon.social]

@ZhiZhu As i've neen saying for a long time, only to be told the US cant go bankrupt. BS. Of course it can go bankrupt, if it cant honor its debts, then its bankrupt. Simples.
Trouble is, if the US falls, we all fall. Everyone. Bar maybe China, who has the manufacturing base to ride out the tsunami

[racingdaily@mastodon.social]

@ZhiZhu There aren't enough assets on the whole planet to pay off the US debt, and its STILL rising daily