{"id":43,"date":"2012-12-27T16:57:42","date_gmt":"2012-12-27T21:57:42","guid":{"rendered":"http:\/\/thelitfuse.com\/blog\/?p=43"},"modified":"2013-03-28T19:35:33","modified_gmt":"2013-03-28T23:35:33","slug":"the-united-states-of-insolvency-part-1-introduction","status":"publish","type":"post","link":"https:\/\/thelitfuse.com\/blog\/?p=43","title":{"rendered":"The United States of Insolvency, part 1: Introduction"},"content":{"rendered":"<p>Insolvent: adjective<br \/>\n1: unable to pay debts as they fall due<br \/>\n2: having liabilities greater than the market value of assets held<\/p>\n<p>The United States government has racked up massive debt by spending far more than its revenues. Like a person with a limited income and bills to pay, if the debt grows large enough, the government will be unable to pay the interest on the debt and will therefore be insolvent.<\/p>\n<p>This series of posts addresses these questions:<\/p>\n<ul>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=46\">What is the deficit?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=69\">What is the national debt?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=80\">What are our unfunded liabilities?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=111\">Why is the debt a serious problem?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=132\">What happens if the United States does become insolvent?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=160\">Is insolvency avoidable?<\/a><\/li>\n<li><a href=\"https:\/\/thelitfuse.com\/blog\/?p=194\">What should I do?<\/a><\/li>\n<\/ul>\n<p>These are all very important questions. It is my opinion that insolvency is already unavoidable except by means that will be an even greater disaster, such as hyperinflation.<\/p>\n<p>To see some of the numbers involved in this series in realtime, along with some past years and estimates of the future, see <a href=\"http:\/\/www.usdebtclock.org\">the US debt clock<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insolvent: adjective 1: unable to pay debts as they fall due 2: having liabilities greater than the market value of assets held The United States government has racked up massive debt by spending far more than its revenues. Like a person with a limited income and bills to pay, if the debt grows large enough, <a href='https:\/\/thelitfuse.com\/blog\/?p=43' class='excerpt-more'>[&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-43","post","type-post","status-publish","format-standard","hentry","category-financial","category-2-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/43","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43"}],"version-history":[{"count":12,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/43\/revisions"}],"predecessor-version":[{"id":198,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/43\/revisions\/198"}],"wp:attachment":[{"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelitfuse.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}