Political leaders and government officials like to make dramatic statements. Are they telling the truth?
Latest Updates
The U.S. Treasury Didn’t Declare the Country ‘Insolvent’
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.
FULL ANSWER
Two economists — Steve Hanke at Johns Hopkins University and David Walker, a former comptroller general of the U.S.
The post The U.S. Treasury Didn’t Declare the Country ‘Insolvent’ appeared first on FactCheck.org.