The United States is Insolvent

Look on the bright side. Maybe this will mean circumstance will force the U.S. to reduce green house emissions.

Some succinct analysis with some startling conclusions:

The US is insolvent. There is simply no way for our national bills to be paid under current levels of taxation and promised benefits. Our combined federal deficits now total more than 400% of GDP.

That is the conclusion of a recent Treasury/OMB report entitled Financial Report of the United States Government that was quietly slipped out on a Friday (12/15/06), deep in the holiday season, with little fanfare.

Read on.