I am not an acountant but if you count AGI, GM , Chrysler , Fannie and Freddie how do figure you can show a profit?
Those companies were put on the national debt. The Federal Reserve is a seperate entity, though you really can’t tell them apart these days. Notice I said the debt and not the deficit. Since they were one time expenditures, they don’t count towrad the annual budget deficit. That is how the politicians can go out and spend a trillion on stimulus and comprehensive legislation then claim they cut the “budget deficit” It is all a shell game and we are falling on the losing end.
I don’t.
I think it is all flim-flam to obfuscate the public.
I don’t believe a word the FED says.
I actually believe that the TBTF banks and the USA are insolvent. Bankrupt. There is NO WAY there will ever be enough TAXES to pay all of the DEBT that the FED and the Government have created. Totally unsustainable.
Never.