Taxpayer reserve keeps feds from bankruptcy

To The Eagle:

Doesn't it seem ironic that the US government insisted that General Motors declare bankruptcy because their balance sheet was $25 billion in the red?

The government's some $14 trillion in the red is the equivalent of every state in the union having just a tad more than 11 General Motors sized bankruptcies.

Let's not be alarmed though; I recently noticed a syndicated columnist who insisted that the federal government is not in bad shape at all financially and nowhere near bankruptcy.

Apparently, as long as there is a taxpayer walking around with a federal reserve note they can confiscate, the federal government will not have to declare bankruptcy.

Gilbert Vik

Cathlamet