General Discussion

Bankruptcy occurs when debt exceeds assets.
The total asset base, public & private, of the United States is nearly 10x the National Debt.
This "we're insolvent" theme has been a rock in my show for a couple weeks because it's wrong but it's being accepted as fact.
If debt exceeding revenue meant bankruptcy, 95+% of all homebuyers we're bankrupt the first several years of their mortgage. But, they weren't because that's not what defines bankruptcy.