[Wally_Kalbacken]

Accounting at the level of the federal government is rather arbitrary and overlooks a lot that would be part of a balance sheet of a corporation, if government were more analogous to a business entity. Like the value of the vast federal land holdings as an asset. I'm not saying that the entitlement programs won't ultimately break the bank, it's just not as dire as this commentator suggests.

[Freedom4US]

Are you suggesting that the government should sell their federal lands, or that they already did? ;)

[Son House]

not as dire as this commentator suggests.

Exactly, Congress is in financial trouble if they try to pay off their debt early, so give them a 300 year time horizon, and protect the Tax Payers and Opportunity Seekers from Congressional Spending Excesses by low tax rates. (New tag line)

[GadareneDemoniac]

There are two definitions of bankruptcy: (1) an excess of liabilities over assets, and (2) the inability to pay your obligations as they come due.

I’ve seen organizations and individuals limp on for a long time in the first situation but the second definition is the killer.

Sort of like the difference in a benign and a malignant tumor.