Is this a joke? If a family had to borrow $0.46 of every dollar it spent to make it’s budget, as is the condition of Obama’s current federal budget, would there even be a question about whether or not that family is broke?
Combine the budget situation with the Fed buying our own Treasury bills, and there can be no doubt - the US is hopelessly insolvent. They can’t continue like this for long before the whole thing implodes.
How long could you go on spending $1000 a month if you only make $540 a month?