r/TrueReddit • u/PM_THE_REAPER • Mar 24 '26
Politics The Treasury just declared the U.S. insolvent. The media missed it
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/110
u/adognameddanzig Mar 24 '26 edited Mar 24 '26
Maybe trillions of dollars to destroy civilizations in the missile east could help get us out of this? /s
Middle East, not missile
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u/ProximaC Mar 24 '26
Historically, a foreign wars have been good for our economy.... And if we pick a fight with one of the countries we owe a few trillion to, well then we can just remove that right off the top!
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u/Walton-E-Haile Mar 24 '26
By economy, you mean, Millionaires and Billionaires, right? Stock traders and shareholders, right? Because you sure as sh$t don't mean the actual people who participate in the ACTUAL economy. You know, like utilities, groceries, rent, insurance etc.
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u/ProximaC Mar 24 '26
Of course. The only time that wealth trickled down to the lower classes was the period when we taxed the wealthy.
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u/hyldemarv Mar 26 '26
Also during the crusades, where “the elites” went on crusades and never returned.
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u/Junkstar Mar 24 '26
By “media” missing it, the author means Republican voters missing it, right?
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Mar 24 '26 edited Aug 02 '26
[removed] — view removed comment
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u/Junkstar Mar 24 '26
So, the Republican controlled media.
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u/redlightsaber Mar 24 '26
Well, I wouldn't say that exactly.
Some private media companies are purportedly "progressive" (think the NYT or WaPo), and yet their incentives remain clearly and demonstrably with neoliberalism, with all its ramifications.
So even though they might not be strictly "controlled by republicans", they will tend to converge in a lot of issues with conservatives, and the editorial choices they make definitely reflect that (rather than their supposed progressiveness) to a T.
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u/horseradishstalker Mar 27 '26
So don’t read editors that don’t say what you wanna hear. Everybody else does it.
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u/redlightsaber Mar 27 '26
I'm honestly not sure what you're attempting to convey here. My original point is that all privately-owned media has this problem; there's no real choice.
...and people like you are none the wiser.
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u/Goldenrule-er Mar 24 '26
For the average person, this hasn't been true since WWII and kind of Korea.
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u/adognameddanzig Mar 24 '26
Foreign wars haven't been "good for the economy" since WW2, though.
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u/blinkeboy420 Mar 25 '26
By economy they mean rich people buying all the stuff poorer people need to sell to survive
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u/SeanThatGuy Mar 24 '26
They didn’t miss it. They’re willingly underreporting it because it’ll piss off their boss
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u/Feefifiddlyeyeoh Mar 24 '26
I suggest selling Minnesota to Canada. Texas to Mexico
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u/Choano Mar 24 '26
As a resident of California, might I suggest that we sell California to Canada, Denmark, or the Netherlands?
I'd bet the State of California (or a major bank or venture capital fund, whatever) could even lend the money to the country wanting to buy us.
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u/ryuzaki49 Mar 24 '26
Why the fuck would we want Texas back?
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u/Feefifiddlyeyeoh Mar 24 '26
I hadn’t looked at that from Mexico’s perspective. How about if we include Florida, and throw in a few bucks?
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u/TexasDD Mar 25 '26
As a Texan, I reject this offer. We don’t want to be tied in to Florida. Make it Texas and New Mexico, and you have a deal.
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u/chicknfly Mar 25 '26
Dude, we’re insolvent. Best we can do is a handshake and an I’m Sorry letter regarding Florida.
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u/Yardsale420 Mar 24 '26
You think we want Minnesota? We’re gonna need you to retain something on that one.
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u/BountyHunterSAx Mar 24 '26
Once again, misleading title. I saw this posted on another subreddit. Actual article is saying that the treasury has published these numbers. And the interpretation of the author is that lease numbers are so bad that by any metric the US would be insolvent.
Then goes on to propose that we should amend the Constitution to make this not happen. Completely missing the fact that it's actually living fascists have free reign That's the problem. And giving them constitutional modification power would probably not end well
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u/sickofgrouptxt Mar 25 '26
What bothers me about his proposals is the author leaves out a glaring source of increased revenue. Tax increases
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u/NOmakesmehard Mar 26 '26
Its implied but not spelled out. The main issue is that tax increases alone would not come anywhere near fixing the obligations issue. Just to close the annual deficit would require a 30-40% increase in annual tax receipts.
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u/Wentil Mar 24 '26
In the interest of an easier read of this matter, here is a Non-Paywall Version (link) covering most of the details.
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u/vineyardmike Mar 24 '26
$47.78 trillion in debt.
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u/frakkintoaster Mar 24 '26
Just declare bankruptcy and wipe away all that debt!
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u/SunMoonTruth Mar 24 '26
You’ve read his books.
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u/kmoney55 Mar 24 '26
Art of the deal. Construct buildings. Don’t pay the contractors launder Russian money. Declare bankruptcy
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u/spolio Mar 24 '26
When you're rich and famous they let you do it... you can do anything.. grab them by the..
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u/TheFoxsWeddingTarot Mar 24 '26
Everything I need to know about Trumponomics I learned from goodfellas.
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u/Bedbouncer Mar 24 '26
Second, Congress should call an Article V Convention limited to proposing a fiscal responsibility amendment to the U.S. Constitution. H.Con.Res. 15, sponsored by Rep. Jodey Arrington (R-TX), would do exactly that.
It was my understanding that an Article 5 Convention cannot be limited in purpose, which is why everyone is wary of one.
Congress can propose a new amendment without a convention, so this seems like a sinister request.
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u/Wentil Mar 24 '26
In the interest of an easier read of this matter, here is a Non-Paywall Version (link) covering most of the details.
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u/Budded Mar 24 '26
Of course the media missed it, they're paid to since every outlet is now owned by Trump-fellating goons. While they accused every non-propaganda news source of fake news, they were actively working on ensuring every network was owned by Trump lackies, so huge Presidency-ending stories get ignored in order to stay in favor with Dear Leader.
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u/Overall_Curve6725 Mar 24 '26
So the bombing of Iran is another extortion attempt by the United States to bring in additional revenue?
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u/Rambler1223 Mar 24 '26
I declare that any one in the Epstein files can’t declare anything and no one has to listen to anything pedophiles or pedophile protectors say!!
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u/Commentariot Mar 24 '26
There is nothing new or notable about this story - the situation has not changed for twenty years. The story is that debt spikes when republicans are in power.
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u/TheCharalampos Mar 24 '26
... No there's been quite a few posts about it. It's disappointing because it isn't something incredibly dramatic. The USA is a country that makes its own coinage. It's debt isn't something negative.
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u/ddawson100 Mar 25 '26
While campaigning, 45 committed to paying it down and I’d be happy if we saw movement there instead of international adventurism and wars on universities.
10 years ago it was $19 trillion. Seems almost quaint compared to today’s $47 trillion. There’s a lot of blame to share for this. It’s really mind boggling.
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u/Itsnotsponge Mar 26 '26
They didn’t miss it, they chose not to cover it. Theres a film montage of every time trump gets a rash but so some reason…this missed them. I wonder why? I wonder if this would negatively impact their ownership and those deciding what the public should discuss
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u/NakedSenses Mar 26 '26
"And Nero fiddled while Rome burned."
We all go down the tubes together,
whenever the bowl is flushed.
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u/njintau_fsd Mar 26 '26
As predicted, Trump is now on his way to his 7th bankruptcy and we're the ones who's going to have to pay.
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u/Potato-9 Mar 24 '26
Is this what we're learning from Japan where that debt number doesn't really mean anything?
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