Friday, January 3, 2014

When they try to scare you with the national debt, give them the national assets

I'm sure you've heard of the debt clock, right? That is that big electronic billboard ticking away at light speed in Times Square that shows the size of the national debt, which is currently at $17.3 trillion, and debt per citizen at $54,000.

Well, what they don't show you are the national assets, which are at least five times more. The national assets are $108 trillion and assets per citizen are at $341,000.

Walk into any bank and ask them for a loan. Then say, "Here are my debts." What do you think the banker is going to ask you? What are your assets!

However, in our national dialogue about debt our assets are never even mentioned. And by the way, our assets are WAAAAAY more than $108 trillion. If you count land value, natural resources, intellectual assets, etc, it's probably closer to a quadrillion dollars.

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