The U.S. Is Officially Insolvent

$6.6 trillion vs $47.78 trillion

Fortune: “The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. … The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025.”

Iran Conflict Leaves American Conflicted

90%

A new CBS News poll shows majorities of Americans think it’s important for the U.S. to end the war as soon as possible (92 percent), guarantee the freedom of Iranians (80 percent), end Iran’s nuclear programs for good (73 percent) and end the war without Iran’s current leaders in power (53 percent). Americans overall think that the war is going badly — and, by a 2-to-1 margin, they’re not willing to pay more for gas.

Trump Is Down to Four Bad Options

“Mr Trump’s defenders insist that his rhetorical gymnastics are part of the plan: the president is keeping his options open, and keeping Iran on its toes. To almost everyone else it is clear that America entered this war with a flawed strategy, starting with its failure to anticipate that Iran would close the strait. … With the fighting entering a fourth week, Mr Trump has four options for how to proceed. He can talk, leave, continue or escalate. If he has not yet chosen one, it is because none of them are good.”

— The Economist