90 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000
Can someone economically literate please help us understand how this is possible? Our Dear Leader has doubled the total debt of all of his predecessors combined (yes, I'm giving the $1T under GW Bush to Obama as Obama asked him to authorize it before taking office), and while tax receipts are up we are still running a deficit.
Is the Treasury or the Fed playing games here?
Is the Treasury or the Fed playing games here?
OK, think about this, we're at $18T+ debt. there is obvious no such thing as "economically literate".
The Treasury is redeeming higher interest bonds with lower interest bonds.
Who buys the lower interest bonds? The FED. The government spends the money to keep afloat. Then the FED asks the Treasury to print up Federal Reserve Notes in the amount of the bonds purchased, and lends them to the banks at no interest, which the banks release as loans up to 10 times the amount of the original bond (Only required to keep a 10% reserve) which dilutes the value of our currency, effectively stealing cents from every dollar holder to fund the Fed's purchase and garner interest on loans for the bank. Those cents add up to the amount you would have invested in savings accounts if interest rates were governed by the market.
The banks get a free loan of your savings to them, they pay you no interest and never give back the money. Theft.
Watch videos...
http://www.federalreserve.gov/releases/h...
That's where the currency inflation hides.
Crystal Ball - Barring Obeyme going postal there will be no overt tax increases in the run up to the street theater election especially when the best writers of Hollywood are having trouble building a legacy out of an 18 trillion dollar debt.
Crystal Ball - He will cancel his portion by executive order as part of the cycle. One NEW dollar bill wil equal one dime. One NEW 100 dollar bill wil lequal one old ten dollar bill. Worked for the French.
Someone; will finally ask what is the debt as a percentage of NET Domestic Product.
The Treasury Department will be arrested as domestic terrorists and replaced by Goldman Sachs.
On a serious note and AFTER the election with legacy assured I see much hand wringing and then a combination of increased fees and raising the retirement age for full benefits, more debt repudiation etc. etc. etc. along with serious attempts at the following.
Invoke Benita Pelosillyni's idea of adding an overall Value Subtracted Tax on top of all the embedded Value Subtracted taxes in the production chain of anything and everything. She calls it Value Added Tax or VAT but I fail to see any increase in value just an increase in price. They will stoop to to their smarmy definitions.
I see a five percent minimum on that idea and no more than a 55% max on the top income tax brackets with the usual pay nothings remaining at zero and getting a refund for their trouble.
Federal tax on marijuana.
See how many whoppers you can come up with? The last three were serious serous the first four were fundamentally possibilities in a notional sense.
Don't believe the Susan B. Anthony urban legend. Go to your local bank and you can get them all day long.
In all seriousness, I'm not sure why we have such an issue with dollar coins. Canadians have both a $2 and $1 coin and it works fine. Production of metal coins is less expensive than producing paper, so there is a financial incentive in doing so as well.
p.s. we are the pawns, imho.
.
Still want to vote for the Government Party? Either half? Still like the greater or lesser of evils?
TANSTAAFL! Someone has to pay and i this system it's retirees and old folks.
That's just way too easy to check out.
The Treasury puppets and all things else moving lips Obamanation can go stuff it.
http://www.usdebtclock.org/
Life will go on regardless of the amount of debt that our wonderful government chooses to incur.
welcome to the new america!
http://www.washingtonexaminer.com/budget...
Remember what they say and what it really means is always two different things. No homeowner lost his house from the housing crash only home buyers and those with big time mortgages. Government never shuts down no matter how much they threaten it's a big time fib. they never cut spending only the amount requested for the next budget. Figures can lie and liars can figure and the gullible pay the freight.
So the value of the owed dollars, is dropping faster than the debt is being added to.
http://www.usdebtclock.org/