This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Timing America's Comeback

6. During FY2010 the Federal Government collected $2.16 trillion in tax revenue.

7. 2010 U.S. GDP was $14.52 trillion.

8. The Federal Reserve monetary base is $2.6 trillion.

The next time you hear a media whore like Dick Bove or Jon Huntsman declare that the United States of America is bankrupt, I suggest you take a step back and consider the source. The gospel of fear is being preached from east to west in this country and yet the actual fundamentals are largely ignored. Don't get me wrong, I'm a huge proponent of getting our fiscal house in order, I'm against excessive government spending and I think a free market is the only market...I'm as Reagan Republican as you can get which means I also believe in the gospel of optimism.

I'm sick and tired of hearing lesser countries like China criticize the United States and I'm especially sick and tired of watching our own opportunistic politicians damage the credibility of the U.S. economy because of their small-minded perceptions of what the United States really is.

We are freedom fighters. We take care of our sick, our poor, and our elderly in a manner that is well within our means. We lead the globe in innovation. Do we have problems? Of course we do. But should those problems command 99.9% of our attention? Heaven forbid.

A breakdown of the majority of our $14.6 trillion in debt reveals that we owe ourselves $5.7 billion (social programs), we owe foreign investors $4.4 trillion and we owe business investors $1.2 trillion. In the grand scheme of things, that size of debt is inconsequential. We could balance our budget within 24 hours if we wanted to, but we don't want to. Our debt is completely elective.

Total assets of the United States are conservatively valued anywhere from $300 trillion to $600 trillion. The United States is worth more today than at any time in its past. Those assets have appreciated at a much greater rate than our debt.

3 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs