Posted on 05/30/2024 5:31:33 AM PDT by davikkm
It appears there’s growing concern over the management of federal debt and deficit amidst the backdrop of recent financial maneuvers. Janet Yellen’s decision to draw down $5.7 billion from the Treasury cash account raises eyebrows, seen by some as an attempt to obscure the true scale of the deficit ahead of upcoming elections. This move, while potentially reducing immediate debt figures, could inflate long-term debt obligations to record highs once the accounting is adjusted.
(Excerpt) Read more at citizenwatchreport.com ...
Biden playing Fun With Numbers..............
They will be tempted to print more money. Like Venezuela.
They are sending more money to Ukraine. There are a few castles in Germany that have not yet been sold and the leaders need some new yachts.
I guess this is moving money to influence an election. I wondered how you could actually do that from watching some sham trial.
The books are so cooked hat this $5.7 B is pennies.
Take a look at the fiscal year end. You will see adjustments along after they delayed the release of the US Financial statements that adjusted the total revenue upward by half a trillion.
Then, since the government is on a cash basis and only recognizes expenses when paid and not when incurred, they pushed the September payments forward into October and paid them in the new fiscal year, to make last year look better.
The proof is in looking at the October expenditures and how much the US Debt went up in October 2023.
The US Debt does not include all the off the books debt and loan guarantees. All the Freddie Mac and Fannie Mae debt is off the books debt. Not only that, they lent the money out long term (30 year mortgages) at low fixed rate interest and borrowed the money short term. The short term debt is now being refinanced at rates far higher than the rate received.
The US financial statements are total fiction.
The US financially is a house of cards waiting to collapse.
Now maybe Biden can fund another war or pay off even more student debts.
Sham economy, sham trials, sham election...
The Total Revenue for fiscal year end 2023 was $4.44 Trillion.
However, 33% of that was Social Security and Medicare Taxes that are not General Fund Revenue. Keep in mind that current benefit payments in Social Security exceed Payroll Taxes collected, thus they need money from the General Fund just to pay current benefits.
That leaves 67% of the Total $4.44 Trillion for the General Fund, or $2.9348 Trillion to pay all Federal Government operations.
Let’s simplify this calculation by dividing that total Revenue to the General Fund of $2.9348 Trillion by the Total Outstanding (on the books) Debt of $34.7 Trillion. That amount is 8.5%.
That means that if interest rates on the National Debt hit 8.5% it takes 100% of our Total Revenue just to pay interest with nothing left to run the government.
At 5% Interest Rate, the interest would be $1.73 Trillion, leaving $1.205 left to run the government.
I’m just trying to put things in perspective. We cannot raise taxes and cut spending enough to save the country. Even is Trump wins and we have a huge majority in the House and Senate, we are screwed.
Reality bites
Maff is hard. The only thing I have is a big fat “Tolyaso”
Tariffs.
That’s the answer. Everybody feels
It when they purchase non-American anything.
Good for the economy, good for jobs, good for masses to understand what’s going on with government and spending, good for US industries.
Flat tax on everybody above poverty, the rest of government funding must be Tarrifs.
Tariffs will help in many ways.
They level the playing field and protect our jobs.
I prefer a consumption tax this way EVERYONE has skin in the game even the government mooches, you buy something you pay the tax!! Far to many have NO SKIN IN THE GAME!!!
“Not only that, they lent the money out long term (30 year mortgages) at low fixed rate interest and borrowed the money short term. The short term debt is now being refinanced at rates far higher than the rate received.”
That would cause the collapse of any “normal” bank.
Literally everything about the deficit and economy that is released, is either false or highly misleading.
The CPI and Unemployment rates initially show things are turning around only to be revise in the following months to numbers that show things are negative, at that point all the reporting is over.
Same with Gas Prices, Biden is emptying out the Strategic Oil Reserve and Gasoline Reserve lowering gas prices until after the election.
The numbers on the border are horrific, the Biden Administration just reclassifies people and shows illegal border crossings are dropping.
Now the budget deficit.
Just like Biden is a walking corpse that everyone can see, the economy is the same.
Here is a link showing Fed Mortgages outstanding.
https://fred.stlouisfed.org/release/tables?eid=1192326&rid=52
I think the Fed total is over $15 Trillion.
I wish they would do a VAT and eliminate the IRS.
Fannie Mae and Freddie Mac are stockholder owned corporations.
So it’s not at all surprising that their debt isn’t on the government’s books.
The Biden administration mask record deficit during elections as well as many other issues they believe if they put a eye mask on before driving off the cliff won’t hurt.
You need to do some research.
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