Joe Biden’s Teachable Moments - Latest Headlines - Investors.com

Joe Biden’s Teachable Moments - Latest Headlines - Investors.com: "So instead Washington, D.C., is going to "give you some money" to hire these teachers back. So, unlike York, Pa., presumably Washington, D.C., has "money for them"?

No, not technically. Washington, D.C., is also broke - way broker than York City School District. In fact, the government of the United States is broker than any entity has ever been in the history of the planet. Officially, Washington has to return 15,000,000,000,000 dollars just to get back to having nothing at all. And that 15,000,000,000,000 dollars is a very lowball figure that conveniently ignores another $100 trillion in unfunded liabilities that the government, unlike private businesses, is able to keep off the books.

So how come the Brokest Jurisdiction in History is able to "give you some money" to hire back those teachers that had to be laid off?

No problem, says the vice president. We're going to "ask" people who have "a lot of money" to "pay just a little bit more" in taxes. Where are these people? Evidently, not in York, Pa. But they're out there somewhere."

...to balance the budget of the United States on the backs of millionaires you would have to increase the taxes of those earning more than one million a year by six million a year.

Not only is there "no money in the city" of York, Pa., and no money in Washington, D.C., there's no money anywhere else in America — not for spending on the Obama/Biden scale. Come to that, there's no money anywhere on the planet: Last year, John Kitchen of the U.S. Treasury and Menzie Chinn of the University of Wisconsin published a study called "Financing U.S. Debt: Is There Enough Money In The World — And At What Cost?"

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