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Yet another reason we don't want The Felon

Being broke means debt exceeds assets. Do you have any data showing debt exceeds assets?

The US Government doesn't use GAAP for its accounting, making it more complicated to answer your question, but yes. If GAAP were applied, the numbers would likely be even worse. Whereas 2024 isn't over yet, the most recent data is 2023 and 2022. Here's the final data on 2023, all numbers in billions.

Financial Report of the United States Government

Total Assets $5,419.1
Total Liabilities $(42,898.3)
Net Position $(37,479.2)
 
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If we abandon NATO, Ukraine,
So you admit that you had Ukraine.
latest
Man, you look terrible, lose weight and work on facial expressions.
That's funny because I weigh around 112 lbs (50.8 kg for you Europeans etc) and was recently asked by a boomer at a Walmart how much I weigh, because I'm so skinny (pretty rude thing to ask when first talking to someone but whatever). Anyway people are too stupid to understand differing metabolisms so I just said I'm skinny because I work at a warehouse.
 
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Yeah, and I've seen it first hand. In South Korea, the US pays South Korea to provide auxiliary troops to support the US military. They are called Katusas. Korean Augmentees To United States Army. The US provides to SKorea the equivalent of E6 pay for each Katusa, even though the individual troops don't receive that. I was earning E3 at the time. I'd have been much happier wasting a year of my life in SKorea had I been receiving E6 pay instead of E3 pay. Plus the AAFES stores and the Commissary were all staffed by locals, giving more money away. I once spent three hours trying to explain the concept of "order a book you don't have in stock" to the cashier at the AAFES Bookstore because the only thing she knew was to say "not on hand" if it wasn't in the store. Then our rations were tightly controlled because so much of what the Commissary and the Class Six were going off base. It wasn't us doing that.

Forget the "they're not paying their fair share of NATO" argument. NATO was never intended for them to pay their fair share. It was always meant to be the US doing the heavy lifting. Financially, manpower, all if it. Trump fundamentally misunderstood NATO when he tried to get the others to pay their promised shares.

Given that, how did the US become the wealthiest country after WWII? Have you forgotten that every other country had its infrastructure blown to smithereens during that war? What was the manufacturing capacity of France, Germany, UK, Japan, or USSR after everything had been bombed? I'm surprised you had to even ask, it is such a well known and obvious result of WWII. It wasn't because they were paying us for protection, it is because we were the only major industrial nation with infrastructure intact. If you wanted manufactured good, it was going to be Made In America. That's why the torch was passed from the UK to the US. It wasn't because other countries were paying protection money.

No, they're not paying for us to defend them. We are paying to defend them. If we're going to throw the lives of our troops away, perhaps we should adopt a more mercenary attitude. The US is broke right now, and all of you think we should still throw our lives and money at everyone else's fight. Quit thinking the US is the indispensable nation. I've long though that if some country wants the US to provide protection, that country should apply for statehood. What I'm suggesting now, a more mercenary attitude, is actually a more moderate position.

Finally, "fight them there or else fight them here" is simple minded sophistry that doesn't even actually support the position of the US as the indispensable world policeman involved in every petty conflict around the globe. The North Elbonians and the South Elbonians are having another slap fight? Gotta send the US to intervene, or the winner will turn around and attack the US? No. Nobody is preparing a major invasion of the US, and nobody is going to be preparing one for a long time. The biggest attack we had in my lifetime was 9/11. We visit that on other countries regularly. Gotta show we're strong by killing brown foreign kids after all.
Plus lots of places after the war was politically unstable . The USA was a safe place to invest money without worry of communists taking over and nationalizing whatever industry or service you invested in.
 
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Taiwan is an artifact of WWII and the Cold War.

It does not have nay international status. There is a quasi legal trail of who has it.

Post war Tu awn was given the status as China, then it wentt to mainland China.

The only importance today is a center for chip manufacturing.

The idea of defending Taiwan is insane. Biden had no authority to infer the USA would defend it.

We have not learned from Vietnam, Afghanistan, and Iraq.

Taiwan is the remnant of the Chinese Civil War. Chiang Kai-shek lost to the communists and fled to Taiwan(Formosa), he was a brutal dictator. But he was our dictator. Anyone anti communist was our friend.

Biden is constantly chanting about defending global democracy and spreading degeneracy. It worked in South Kore and we are still there in force. He thinks he is Moses. In some ways Biden is just as dangerous as Trump.

Failed in Afghanistan, Iraq, and Vietnam.


There are some in Taiwan who support unification. There is no clear majority that supports independence.

 
If we abandon NATO, Ukraine,
So you admit that you had Ukraine.

Why don’t you stop your nonsensical posting and quit twisting what people say? Of course we are HELPING Ukraine fight off the onslaught from the Nazi tyrant in the Kremlin whom you support. That is the decent and right thing to do. This does not mean that we HAVE, OWN, or CONTROL Ukraine. But you know this perfectly well. Are you posting under duress?
 
If we abandon NATO, Ukraine,
So you admit that you had Ukraine.

Why don’t you stop your nonsensical posting and quit twisting what people say? Of course we are HELPING Ukraine fight off the onslaught from the Nazi tyrant in the Kremlin whom you support. That is the decent and right thing to do. This does not mean that we HAVE, OWN, or CONTROL Ukraine. But you know this perfectly well. Are you posting under duress?
Nazi tyrants are sitting in Washington and EU/GB capitals.
 
If we abandon NATO, Ukraine,
So you admit that you had Ukraine.

Why don’t you stop your nonsensical posting and quit twisting what people say? Of course we are HELPING Ukraine fight off the onslaught from the Nazi tyrant in the Kremlin whom you support. That is the decent and right thing to do. This does not mean that we HAVE, OWN, or CONTROL Ukraine. But you know this perfectly well. Are you posting under duress?
Nazi tyrants are sitting in Washington and EU/GB capitals.
I don't see Washington, the EU/GB attempting to take over a neighboring country by force like Nazis do.
 

The US is broke right now,

I did my best to read and understand your post,

But what the fuck are you talking about the US is broke? Not even close!

The billionaires will keep saying that as long as their goal is to end taxes and regulations, but that's the huge bullshit the Naz
Oh wait I meant Teaparty keep telling you and people like you.
The USA is nowhere near broke, that's why people like Trump and Crowe keep getting richer and richer.
Tom
A $25.44 trillion GDP is the new broke.
 
Trump is now on tape claiming that "if you vote for me just this one time, you'll never have to vote again".

But sure, both sides are the same...
 

The US is broke right now,

I did my best to read and understand your post,

But what the fuck are you talking about the US is broke? Not even close!

The billionaires will keep saying that as long as their goal is to end taxes and regulations, but that's the huge bullshit the Naz
Oh wait I meant Teaparty keep telling you and people like you.
The USA is nowhere near broke, that's why people like Trump and Crowe keep getting richer and richer.
Tom
A $25.44 trillion GDP is the new broke.
Jason must be doing very well indeed then.
Why is he always complaining?
 

The US is broke right now,

I did my best to read and understand your post,

But what the fuck are you talking about the US is broke? Not even close!

The billionaires will keep saying that as long as their goal is to end taxes and regulations, but that's the huge bullshit the Naz
Oh wait I meant Teaparty keep telling you and people like you.
The USA is nowhere near broke, that's why people like Trump and Crowe keep getting richer and richer.
Tom
A $25.44 trillion GDP is the new broke.
Jason must be doing very well indeed then.
Why is he always complaining?
You'll need to ask that of him.

As for my observations, I see the deficit whiners as just another pew in the Church of Starve the Beast. The government does too many things for people they don't like and their solution is to deprive the government of resources to do those things. In recent times, conservatives have used their political power to cut taxes for the top layers of the economy, with no corresponding cut in expenditures. The reason is simple, tax cuts are easy to sell to the unsophisticated. Macroeconomics is not really all that difficult, but conservatives like to pretend it's black magic and what's needed is someone to cast the same spell as last time, but this time we get better results.

The real reason conservative economic policy never works is because it's not intended to work. It's goal is to wreck the Federal government and prevent it from improving the lives of poor people.
 
Trump is now on tape claiming that "if you vote for me just this one time, you'll never have to vote again".

But sure, both sides are the same...
Yeah, but that's being misinterpreted. He's saying it's very important to vote for him this time around. Next time, things will be ok and it's not an urgent matter. He's not saying you won't be able to vote. There's enough real evil, don't make up more.
 
Plus lots of places after the war was politically unstable in lots of places. The USA was a safe place to invest money without worry of communists taking over and nationalizing whatever industry or service you invested in.
Definitely. US$ and US investments are widely preferred by those in unstable areas.
 
The government does too many things for people they don't like and their solution is to deprive the government of resources to do those things.
Very well said.
:applause2:
In fairness, the government does too many things for a person or two that I don't like.
But I don't think it's a beast that can be starved by cutting government funding, if you know what I mean.
The real reason conservative economic policy never works is because it's not intended to work. It's goal is to wreck the Federal government and prevent it from improving the lives of poor people.
Yup, and that is a principle asymmetry in this "battle". It's orders of magnitude easier to wreck stuff than to build or create stuff.
 

The US is broke right now,

I did my best to read and understand your post,

But what the fuck are you talking about the US is broke? Not even close!

The billionaires will keep saying that as long as their goal is to end taxes and regulations, but that's the huge bullshit the Naz
Oh wait I meant Teaparty keep telling you and people like you.
The USA is nowhere near broke, that's why people like Trump and Crowe keep getting richer and richer.
Tom
A $25.44 trillion GDP is the new broke.
The GDP doesn't belong to the government, and even if it did the debt exceeds the GDP.

You'll need to ask that of him.

As for my observations, I see the deficit whiners as just another pew in the Church of Starve the Beast. The government does too many things for people they don't like and their solution is to deprive the government of resources to do those things. In recent times, conservatives have used their political power to cut taxes for the top layers of the economy, with no corresponding cut in expenditures. The reason is simple, tax cuts are easy to sell to the unsophisticated. Macroeconomics is not really all that difficult, but conservatives like to pretend it's black magic and what's needed is someone to cast the same spell as last time, but this time we get better results.

The real reason conservative economic policy never works is because it's not intended to work. It's goal is to wreck the Federal government and prevent it from improving the lives of poor people.

Unlike conservatives, I don't consider it a tax cut unless spending is cut by the same amount.
Total spending = total taxes
Total taxes = direct taxes + indirect taxes

Neither Democrats nor Republicans, neither progressives nor conservatives, understand BOTH those equations at the same time. Look at you and the way you described the conservative position, and then for reasons unknown to the entire thinking world ascribed it to me.
 
Plus lots of places after the war was politically unstable in lots of places. The USA was a safe place to invest money without worry of communists taking over and nationalizing whatever industry or service you invested in.
Definitely. US$ and US investments are widely preferred by those in unstable areas.
I'll add this is also why our wages and working conditions were a lot better too. If the rich were going to get the average citizen to go along and fight the Russians if need be the average citizen had to believe, factually or not, that they lived and had it better than the same citizen in similar professions over in the USSR. Since there is no real aggressive communist threat today and nations have rebuilt from World War Two and many have stable governments the wealthy feel free to invest in and send their factories off to dirt poor countries for dirt poor wages.
 
The GDP doesn't belong to the government, and even if it did the debt exceeds the GDP.
So what?

My debt exceeds my annual income. But I ain't broke; I make my mortgage payments on time and in full every month.

The US Government pays the interest on US debts on time and in full at the agreed schedule. The US Government ain't broke.

Borrowing money is a smart move, when you are buying stuff you expect to still be benefiting from long after the debt has been repaid.

And as long as you don't plan to retire, and don't expect to become incapable of earning, there is no reason whatsoever not to borrow more money; You might pay off debts all the time, but still be constantly in debt, because you keep borrowing afresh.

That's exactly what the US government does. Bonds are paid off, with interest, all the time; But new bonds are issued, so the US is always in debt.

That's not only harmless, it's a significant benefit to US citizens.
 
Total spending = total taxes
This is a recipe for a disastrous recession, and likely a deflationary spiral.

"Total spending = Total income" isn't even a wise budget for a household.

Households don't issue fiat money, so they should have a budget where Total spending < Total income.

Governments that do issue fiat money should have a budget where Total spending > Total income.

Commodity money hasn't been a thing for a long time. And good riddance.

But simpletons gonna simple, I guess. If your understanding of money starts and ends with commodity money, everything is easy. Shitty, but easy. Medieval level shitty. Literally.
 
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The US is broke right now,

I did my best to read and understand your post,

But what the fuck are you talking about the US is broke? Not even close!

The billionaires will keep saying that as long as their goal is to end taxes and regulations, but that's the huge bullshit the Naz
Oh wait I meant Teaparty keep telling you and people like you.
The USA is nowhere near broke, that's why people like Trump and Crowe keep getting richer and richer.
Tom
A $25.44 trillion GDP is the new broke.
The GDP doesn't belong to the government, and even if it did the debt exceeds the GDP.

You'll need to ask that of him.

As for my observations, I see the deficit whiners as just another pew in the Church of Starve the Beast. The government does too many things for people they don't like and their solution is to deprive the government of resources to do those things. In recent times, conservatives have used their political power to cut taxes for the top layers of the economy, with no corresponding cut in expenditures. The reason is simple, tax cuts are easy to sell to the unsophisticated. Macroeconomics is not really all that difficult, but conservatives like to pretend it's black magic and what's needed is someone to cast the same spell as last time, but this time we get better results.

The real reason conservative economic policy never works is because it's not intended to work. It's goal is to wreck the Federal government and prevent it from improving the lives of poor people.

Unlike conservatives, I don't consider it a tax cut unless spending is cut by the same amount.
Total spending = total taxes
Total taxes = direct taxes + indirect taxes

Neither Democrats nor Republicans, neither progressives nor conservatives, understand BOTH those equations at the same time. Look at you and the way you described the conservative position, and then for reasons unknown to the entire thinking world ascribed it to me.
If you want to plead the "not all conservatives" exception, I have no objection. I'm not sure what school of economic theory to which you ascribe, but I don't know of any which says spending and taxes are the same thing.
 
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