Michael Moore says America is not broke. If it were up to him and those like him we would liquidate the assets of every American making over $250,000 per year and all of the profits of the Fortune 500 companies, and then maybe we could pay off the government’s projected $3.7 trillion in spending, right?
Here’s an informative video based on the work of Iowahawk, who utilizes the lost art of mathematics to give you the answer:
Most interesting to note is that this would cover the federal budget of $3.7 trillion for 2011 only. In 2012, we’d need to start liquidating the assets of everyone else.
If you haven’t guessed by now, we really are broke.
Hat tip Karl Denninger