Mastodawn

H. Entity 7h ago

Zhi Zhu 🕸️

"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

Zhi Zhu 🕸️7h ago

"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

The Treasury just declared the U.S. insolvent. The media missed it

The Government Accountability Office can't even verify the books. Here's what Congress must do.

Fortune

Zhi Zhu 🕸️7h ago

"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

The Treasury just declared the U.S. insolvent. The media missed it

The Government Accountability Office can't even verify the books. Here's what Congress must do.

Fortune

Rich Stein (he/him)3h ago

@ZhiZhu
Don't worry. The current regime is going to make everything better, and they're not relying on smoke and mirrors — they're more of the thoughts and prayers type. 😕
https://mastodon.social/@RunRichRun/116286205189497060

James 🦉 #FBPE 🇪🇺5h ago

@ZhiZhu He moved on it like one of his businesses

prozacchiwawa 2h ago

@ZhiZhu do enough hyperinflation and we'll be able to pay off that 42 trillion with a single facebook marketplace sofa.

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

Buttered Jorts 7h ago

@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.

Yep, you got it in one try.

Pomegranate_Stew 5h ago

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

Every damn time with these guys.

E:’

GhostOnTheHalfShell 6h ago

@alex_p_roe @ZhiZhu @politics

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

But it can default by choice.

atopoeia-o 7h ago

@ZhiZhu 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.

Cabbidges 6h ago

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

Richard W. Woodley ELBOWS UP 🇨🇦🌹🚴‍♂️📷 🗺️6h ago

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 6h ago

Meep meeep false narrative, warning, meep meep

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

Steven Zekowski 6h ago

@GhostOnTheHalfShell @ZhiZhu

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

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

Steven Zekowski (@[email protected])

@[email protected] Sorry. As much as I hate Trump & like your ETTD acronym, debt fear mongering like this is bull💩. USA can’t become insolvent in its own money. Fed gov creates $$ when it spends them into existence. We don’t need to borrow/tax to acquire dollars. See #MMT, eg Stephanie Kelton’s “The Deficit Myth” or https://findingmoneyfilm.com/ Nonsense like this prevents us from housing, feeding, educating, & providing healthcare with pointless “how are we gonna pay for it?” question.

Free Radical

Steven Zekowski 6h ago

@GhostOnTheHalfShell @ZhiZhu

Or this one from a few days earlier

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

Steven Zekowski (@[email protected])

@[email protected] Deficits don’t matter the way you may think. The US federal budget is not like a household budget. See #MMT: Stephanie Kelton’s “The Deficit Myth” or https://findingmoneyfilm.com/ > With one brief exception, the federal government has been in debt every year since 1776. In January 1835, for the 1st & only time in US history, the public debt was retired, and a budget surplus was maintained for 2 yrs…In 1837 the economy collapsed into a deep depression https://www.nakedcapitalism.com/2010/02/wray-the-federal-budget-is-not-like-a-household-budget-%E2%80%93-here%E2%80%99s-why.html

Free Radical

GhostOnTheHalfShell 6h ago

@steve_zeke @ZhiZhu

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

Steven Zekowski 5h ago

@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

Dr. Kelton’s Graduate Macro Students’ Video Project

Visit the post for more.

New Economic Perspectives

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

Ruled by thieves 5h ago

@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

Ruled by thieves 5h ago

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

Mastodon's Billionaire Owner 4h ago

@ZhiZhu
When you can issue the currency, you can't become insolvent.

You can have problems, but that one is misinformation.