Under Obama, Debt Has Increased $6 Trillion, Fed Balance Sheet Increased $2.78 Trillion

Confounded Interest ^ | 10/09/2013 | Anthony B. Sanders

[whitedog57]

On September 17, 2008, the US total debt stood at $10.615 trillion and The Fed’s balance sheet was almost $1 trillion ($996 billion). Since that time, US total debt has skyrockets to … the statutory debt limit! That means that over President Obama’s Presidency (and the last couple of months of Bush’s Presidency), total debt climbs over $6 trillion.

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And The Fed’s balance sheet rose over $2.78 trillion.

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With The Fed enabling massive Federal government waste (and Janet Yellen likely a willing enabler). Democrats and President Obama are refusing to negotiate on the budget or the debt ceiling. Even worse, Treasury will not discuss contingency plans with House Republicans.

Hint: In the short run, we will likely see Treasury repo activity increase.

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It is pretty clear that President Obama wants to keep spending. So when he says that raising the debt limit doesn’t mean that debt will increase, it’s like Obama telling Republicans that he will negotiate AFTER they surrender.

a3

Sure worked well for the French at Dien Bien Phu! ……. NOT!

[whitedog57]

As if this will stop.

[Graewoulf]

Thanks for this article.

My fear is that the US Federal spending is going to go parabolic.