Mastodawn

"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

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GhostOnTheHalfShell 7h ago

@ZhiZhu

Meep meeep false narrative, warning, meep meep

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

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Steven Zekowski

@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

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Steven Zekowski 7h 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

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GhostOnTheHalfShell 7h ago

@steve_zeke @ZhiZhu

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

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Steven Zekowski 7h 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