Basic accounting for......from Rico

Here is some basic accounting for Congress, the Financial Media, and all Obamunistas.

ALE

Assets (cash reserves) minus Liabilities (foreign debt) equals Equity (net worth), or A-L=E for short, simple, and easy to remember.

Now let's use ALE to compare China and the US.

China has cash reserves of $5 trillion, foreign debt of $374 billion, leaving a positive net worth of $4.6 trillion.

The US has cash reserves of $490 billion, foreign debts of $2.1 trillion, leaving a negative net worth of <$1.6 trillion>

I do not think the 40# brains that put us into this hole are smart enough to get us out of it.

Time for a different kind of "ale" I think...hmmmmm, Bass or Guinness?