Letters to the Editor

Huge national debt is a myth

Regarding K.W. Clark’s (letter March 10) claim that we have a huge national debt problem. We do not have a debt problem. Far from it.

When our government says we are in $19 trillion in debt, that is our liabilities. Our assets are never mentioned. According to the National Institute for Energy, in today’s market, our government – which is us – owns $60 trillion in oil and natural gas. This does not include coal, land, office buildings, gold, etc.

I would like someone once to put up a balance sheet and actually tell the truth, assets on the left and liabilities on the right. But they won’t. They want to continue keeping us misinformed. Our government could pay off the debt by selling some of these assets and taking care of the sick, disabled, rebuilding our roads, schools, and rebuilding our military back where it’s supposed to be — No. 1.

Mike Bakula, Fresno