Quote:
Originally Posted by whell
The federal balance sheet is published each year. You can find copies on the US treasury website that go back to 1975. It's really not that hard to find, but just to speed things up, here you go: https://www.fiscal.treasury.gov/repo...nancial-report. These reports account for tangible and intangible assets. So, if you missed that detail, maybe you weren't paying attention.
Back in 1975, the debt outstanding was over $394 billion (adjusted). Assets were $354 billion. You can already see when looking at the Liabilities and Equities" section of the report that 1975 debt increased by $57.9 billion over 1974. The easy answer to that is like we do every year, spending outpaced revenue. |
How do you put a dollar value on the capabilities of our grossly large military? Or any intangible 'asset'?
__________________
"We have met the enemy and he is us."
Last edited by nailer; 02-14-2023 at 08:55 PM.
|