Q: I read this on FB. Is it true? The U.S. Treasury just declared the U.S government is insolvent.

A: No. That’s the conclusion of an opinion piece that cited a Treasury report showing the government’s liabilities outweigh its assets. But that’s been the case for decades, and unlike an insolvent business, the government can levy taxes.

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Two economists — Steve Hanke at Johns Hopkins University and David Walker, a former comptroller general of the U.S. … Continue reading The U.S. Treasury Didn’t Declare the Country ‘Insolvent’