Does the U.S. have enough money to solve its problems?


In recent weeks, amid the health care debate, there's been a lot of misinformation regarding the wealth of the United States. So let's set the record straight: the United States has today roughly $50-60 trillion in wealth and investment capital, depending on how one measures each.

I'll repeat the low-end estimate for everyone: fifty trillion dollars. That's $50,000,000,000,000.

The United States: the golden door

In other words, despite the nation's most pronounced recession in more than a generation, despite the horrible housing slump, and despite the 2008 stock market plunge, the United States remains not only the richest nation in the world, but the richest nation and civilization the world has ever known.

No nation has ever created and amassed more wealth in absolute terms than the United States.