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March 4, 2016
For 2015, the government reports $3.2 trillion in total assets.
This includes everything from financial assets like bank balances to physical assets like tanks, bullets, aircraft carriers, and the federal highway system.Curiously, the single biggest line item amongst these listed assets is the $1.2 trillion in student loans that are owed to the government by the young people of America. - – Sovereign Man
Posted by gerardvanderleun at March 4, 2016 1:49 PM. This is an entry on the sideblog of American Digest: Check it out.
Your Say
They do not mention the vast tracts of the Western States that the Federal Government illegally claims.
If land isn't a "Physical Asset" what is?
Posted by: bilejones ![[TypeKey Profile Page]](http://americandigest.org/sidelines/nav-commenters.gif)
at March 4, 2016 5:44 PM
Well, if I steal $1000 then go to the bank and try to borrow $500 with that $1000 as collateral and they ask me where I got it and I told them I stole it they won't loan me the money.
Posted by: ghostsniper at March 4, 2016 6:43 PM
Claiming those student loans as assets has to be the joke of this century.
Students can't clear them through bankruptcy. They cannot get jobs paying enough to pay off those loans. Ergo the Government cannot collect them nor can the Government write them off as non-paying. That leaves liens or debtor's prison. But hardly an asset on the books.
This is political bookkeeping however, not acceptable in the real world. You try this and it's Marion, IL for a stretch.
Posted by: Vermont Woodchuck at March 5, 2016 3:40 AM
Stretch:
Radiator hose forced through a small flesh grommet.
Posted by: ghostsniper at March 5, 2016 4:53 AM