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To: pigdog
I doubt the government can or will spend much of its "net worth".

It's a business thing.   Net Worth = AssetsLiabilities (from here)

Sure, the idiot press talks about "paying for tax-cuts" etc., but spending involves using up assets, not liabilities or net worth (with or without the "")..

fwiw, a big chunk of assets are stuff like cash on hand and funds owed to the government.  Some people like to think they're Scrooge McDuck trying to fill a money bin, but they're idiots.  Before I want the government to make me pay taxes, it first has to spend it's cash on hand before I give it any more.   Doing this won't make the US go bankrupt; not even "bankrupt".

203 posted on 07/12/2006 1:51:05 PM PDT by expat_panama
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To: expat_panama
Sorry, but "net worth" has no relevance for paying money to entitlement benefactors. Nor do "assets" for the most part since the government seldom has little if any "cash on hand". They merely borrow it almost instantaneously when they think they need it.

"Before I want the government to make me pay taxes, it first has to spend it's cash on hand before I give it any more."

Sorry, too, to tell you that that's not the way things work. You'll cough up tax when he government sends "the man" out for it whether you think you want to or not. that's the way those sovereigns operate - maybe not in Panama, but here in the US.

209 posted on 07/12/2006 2:37:57 PM PDT by pigdog
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