[finnbow]

Originally Posted by donquixote99

Liabilities and assets makes no sense when it comes to the government. The government should hold relatively limited notable assets, in itself, other than operating plant--buildings and computers and satellites and such--and national defense assets, to include weapons systems and facilities. The one real asset, the thing to weigh against the debt, is the entire productive capacity of the country, which the government taps to pay ongoing expenses and service the debt. The debt was created on behalf of all and for the benefit of all, and we all collectively owe it. The debt, basically, is secured by our ability and willingness, with our economy and through our government, to continue to provide money to service it.

Indeed. Hence all of the comparisons of the economics of running a household with that of a sovereign nation with a $25 trillion economy and the world reserve currency are just plain silly, though sometimes useful for dumbed-down illustrative purposes when dealing with certain economic illiterates on this forum.😜