Those worried about debt overlook America’s assets
Editorial cartoonist Lisa Benson rode her favorite mythical horse, the rising debt limit, in The News on March 22. Had she spent 30 seconds online after typing in “assets of the U.S.,” she would have discovered that the value of all the natural resources owned by the U.S. government is at least $200 trillion and probably $400 trillion by the time one adds in transportation systems, educational and health institutions, idle workers and plants, etc.
When Treasury bonds are selling at zero interest, and the dollar is the strongest currency in the world, the financial markets feel very secure about the U.S. Treasury, as well they should. Worry about the debt of the largest and strongest economy the world has ever known belongs in a league with the earth being flat and the center of the universe.