The Treasury just declared the U.S. insolvent
"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.
"
Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security and Medicare — those are disclosed separately in the off-balance-sheet Statement of Social Insurance (SOSI).
"The government’s consolidated balance sheet position, excluding the SOSI, deteriorated by nearly $2.07 trillion between FY 2024 and FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets. The largest drivers were a $2 trillion increase in federal debt and interest payable (now $30.33 trillion) and a $438.8 billion increase in federal employee and veteran benefits payable (now $15.47 trillion).'
https://www.yahoo.com/finance/economy/policy/articles/treasury-just-declared-u-insolvent-151425143.html
To make America solvent again congress MUST reverse all the tax cuts for the wealthy given in the last 20 years. Off-shore tax havens and other tax dodging schemes used by the wealthy must be banned. Force corporations and the wealthy to pay their fair share of taxes.
Next, we must cut the hugely wasteful military budget. The Pentagon has failed 7 audits in a row. Corrupt defense contractors are robbing the American tax-payer blind.
Next, congress should enact a tax on transactions in securities and derivatives. Say a 1/4 of 1%. such a tax would go a long way toward paying down the federal deficit.
"
Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security and Medicare — those are disclosed separately in the off-balance-sheet Statement of Social Insurance (SOSI).
"The government’s consolidated balance sheet position, excluding the SOSI, deteriorated by nearly $2.07 trillion between FY 2024 and FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets. The largest drivers were a $2 trillion increase in federal debt and interest payable (now $30.33 trillion) and a $438.8 billion increase in federal employee and veteran benefits payable (now $15.47 trillion).'
https://www.yahoo.com/finance/economy/policy/articles/treasury-just-declared-u-insolvent-151425143.html
To make America solvent again congress MUST reverse all the tax cuts for the wealthy given in the last 20 years. Off-shore tax havens and other tax dodging schemes used by the wealthy must be banned. Force corporations and the wealthy to pay their fair share of taxes.
Next, we must cut the hugely wasteful military budget. The Pentagon has failed 7 audits in a row. Corrupt defense contractors are robbing the American tax-payer blind.
Next, congress should enact a tax on transactions in securities and derivatives. Say a 1/4 of 1%. such a tax would go a long way toward paying down the federal deficit.
