NB. This article could have been written under any recent administration (and no doubt was published in different forms).
I don't mean it's politically motivated or that the current admin shouldn't be criticized; the authors have legitimate economic views and concerns that follow - but the title is clickbait and shouldn't be used to infer something new is happening.
> These two bills represent the most credible path forward — if Congress has the will to act.
I’m not American, and yet I can tell this is extremely unlikely to happen. I’ve lost track of all the Cassandras raising the alarm who were shot down or even laughed at. But there is still a bit more road left for the can to be kicked one more time.
there are many numbers in that article, but they didn't tell US became insolvent this year, or was insolvent last year too by their criteria. What about the last decade?
The US can't go insolvent. The fed can could buy the entire debt out tomorrow out of newly created money. Sovereign debt in a country with such central bank is little more than future tax or inflation, but solvency is guaranteed.
Not a nice timing by the treasury to post this at the same time that many companies fire employees, war is going on, and fuel is running out. Everything is piling up it seems
Here's your reminder that this is of course a bunch of alarmist nonsense, because as an issuer of currency the United States is incapable of becoming "insolvent."
The authors are from an libertarian extremist think tank that pushes for a balanced budget amendment. If these people got their way, we would immediately solve the problem of people arguing about this on the internet since none of us would be able to afford to own a computer.
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I don't mean it's politically motivated or that the current admin shouldn't be criticized; the authors have legitimate economic views and concerns that follow - but the title is clickbait and shouldn't be used to infer something new is happening.
> These two bills represent the most credible path forward — if Congress has the will to act.
I’m not American, and yet I can tell this is extremely unlikely to happen. I’ve lost track of all the Cassandras raising the alarm who were shot down or even laughed at. But there is still a bit more road left for the can to be kicked one more time.
Is this an AI generated article? Sure reads like it.
>The U.S. government is insolvent. That’s not hyperbole...
It's actually a lie and clickbait.
The authors are from an libertarian extremist think tank that pushes for a balanced budget amendment. If these people got their way, we would immediately solve the problem of people arguing about this on the internet since none of us would be able to afford to own a computer.