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The only way that the federal government gets money is via:
1) tax revenues of all kinds2) borrowing by issuing US Treasuries
The amount of funds that Congress authorizes to spend above and beyond revenue receipts of all kinds MUST BE BORROWED VIA ISSUANCE OF US TREASURIES (government debt).
When the federal government reaches its Congress approved FEDERAL DEBT CEILING then it has no capacity to borrow externally and must use "extraordinary measures" (internally borrowing from pension and other funds) in order to even continue issuing checks. That debt limit will again go back into force in MARCH 2017 after having been suspended by Congress since October 2015.
Not a single penny of the money spent by Congress is created by anyone and the fact it moves electronically has nothing whatsoever to do with the source of funds which must either be tax revenues (including tariffs, fines, income and payroll taxes, etc.) or must be borrowing through the issuance of US Treasuries which creates an obligation by the federal government to repay the holders of US Treasuries based on their specified maturities.
That is why the federal government debt is now nearly $20 trillion and rising at a rate of around $1.4 trillion a year based on the shortage of $1.4 trillion in Fiscal 2016 ended September 30, 2016.
That process of government spending comes from the US TREASURY BANK ACCOUNTS and has NOTHING WHATSOEVER to do with the Federal Reserve creating a single penny of money for Congress to spend.
That's not totally correct. They raise a large amount of revenue through fines due their over-regulation of almost every industry except government itself.
Those would be considered TAXES in the big picture summation above.
Obama was an expert at kicking the fiscal can down the road; for 8 years Obama's policies kept America's fiscal house on life support. time to pay the piper!
And it only took $1T/year to do it, not counting ZIRP and direct payments to banksters.
There were no "direct payments to bankers" and what the banking industry got during the reign of Obama terror was HUNDREDS OF BILLIONS OF DOLLARS IN FINES. Bank cannot and do not borrow from the Federal Reserve to lend to anyone and there was no "ZIRP" that benefited borrowing from anyone from the Federal Reserve.
Obviously you have zero clue about reverse repo agreements and their applications within central banks and 'bulge bracket' rofl
Obviously it is YOU WHO HAS NO CLUE as those things have nothing whatsoever to do with the federal government deficits and debt which is now over $20 trillion and soaring at around $75 billion each and every month.
If you had any knowledge beyond headline spin then you'd know that including off balance sheet and reinsured' items the aggregate is 50x or 5000% higher than you suggest. $20 trillion aggregate threshold was decades ago. Put your head back in the sand. ROFL
You've just proven yourself QED to be TOTALLY NUTS and beyond utterly clueless and incapable of understanding any factual numbers at all.
There are no atheists in a foxhole. ( old military saying ).I think that Michael, and you missed the point of the article. If Family Christian stores are going out of business. There is no problem with the economy
Redoing NAFTA does not mean it will end trade partnerships or jobs; it only means there will be a transitional period whereby jobs are restored to American manufacturing.
it won't happen overnight, or at all, if there is a recession, or God forbid, a depression.
I see your point, tacoma, however; we don't know whether Mexico and Canada will "not" accept changes. That is highly speculative, and Trump knows the art of the deal. He is the master negotiator.
Possibly, and time will tell.From a biblical standpoint, there is one of the major players in the Beast system, a Nation that is rooted out of the ten, along with two more, and I do believe that one is the US of A, and it is the one that becomes a "deadly wound" to the beast system...as in a complete withdrawal from the United Nations.
It may be that US of A, Israel, and England/Britain may be seen as a cooperative "head" that renounces participation in the UN's NWO.
Anyways, "IF" it does turn out that America is the deadly wound, or part of it, that throws the proverbial monkey wrench into the UN/NWO plan for the one world/beast system, then none of the treaties, like NAFTA, or any Trade agreement would be followed or bound to. Just sayin', it is a possibility.
Many, actually most preachers and teachers, mis-interpret, and do not correctly divide the wording of the book of Revelation, and see the two beasts spoken of as two demonic entities, just as they see one beast as Antichrist and as a flesh man alive today.
Never gonna be a flesh man, because the one beast is none other than Satan, in his supernatural spirit form, looking like an image of Christ ...returned.The other beast isn't a man, flesh or spirit at all, as it is about the NWO/Beast System, being set up by the workings of demonic spirits and demonically controlled men and women...aka Liberals.
The only way to have power over them, is to have a majority, or near majority, of true Christians making a stand and praying for guidance to overcome the Beasts.
There will still be pain and suffering to break down the wicked hearts of those that can be broken, during these final last days.It will happen, and judgments/chastisements/ corrections will take place as prophesied.My belief is that it happens, first, in the form of financial collapse and people lose all their material Idols of worship.
All debt MUST BE REPAID and that is the problem with debt. More than $6 trillion of US Treasuries are REPAID IN FULL EACH AND EVERY YEAR which is why more than $7 trillion of NEW US TREASURIES ARE ISSUED each year with about $1 trillion of that going to fund NET NEW GOVERNMENT DEFICIT SPENDING.
The only alternative to repaying is write-downs and defaults of debt but that is not an option with the debt owed by the US government.
Federal government spending is VERY HUGE PROBLEM and the biggest issue with US government spending is that around 63% is being spent each year on SOCIAL WELFARE AND MEDICAL EXPENSES and that amount will continue to rise dramatically.
There is very little in the way of federal spending that is "corruption" or "waste" and that is a totally bogus argument. Military spending including Veterans benefits amounts to only about 20% of total annual federal government spending.
Only 20% of the US government annual spending is for total military spending with 16% for actual military spending and 4% for Veterans Benefits.
The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.
A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:
WELFARE & MEDICAL (63%)33% Social Security, Unemployment, Labor27% Medicare & Health..3% Housing & Community
MILITARY (20%)16% Military..4% Veterans Benefits
INTEREST ON DEBT (6%)..6% Interest on Debt
FOOD & TRANSPORTATION (6%)..3% Food & Agriculture..3% Transportation
EDUCATION & SCIENCE (3%)..2% Education..1% Science
ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)..1% International Affair..1% Energy & Environment
OTHER EXPENSES (1%)..1% Government Expenses (general)
The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:
So if we cut off all S'S payments, Medicare. And welfare? We can keep the illegals coming into this country?
Huh? Who said anything about cutting off all such payments? They simply need to be cut by around 50% and the issue of illegal aliens is an entirely separate matter which is already being addressed.
Federal spending is part of the problem. You're leaving out the other part of the problem, the Fed.
Absolutely false and utterly clueless. The Federal Reserve is not even slight part of the problem and is the single largest revenue source for the US government as it rebates 94% of its annual profits to the US Treasury and its taxpayers each year.
That now amounts to nearly $100 billion of revenue each year for the US government making its $2.5 trillion of holdings in US Treasuries TOTALLY INTEREST FREE. The Federal Reserve does not cost the US Treasury or its taxpayers a single penny to operate.
You do know your reference here is a socialist/communist think tank right? Created by Greg Speeter-Community Organizer. That's code for Communist. And endorsed in books by Barbara Ehrenreich, from the Democratic Socialists of America... You have been exposed for the Socialist you are!
False. The National Priorities web site is not a "socialist/communist think tank" at all. What they stated and what I stated above are the 100% true, accurate, and correct facts regarding the spending in the fiscal 2015 federal budget.
I've never seen you make a 100% true comment. Markets prove your predictions 100% inaccurate near daily.
Thank you for once again describing YOURSELF just perfectly. By the way, the total actual M2 money supply (stock) in the US is only $13.5 trillion.
Nullius in verba!
No networks, any websites, Paul Ryan et al have even mentioned this March 15 hard date. And this is stunning. Even with Trump in office nothing is getting accomplished or supported from Congress. Trump is clearly by himself and when this tragedy really tanks all the Senators and Congressman will be running for the hills in fear of 100 million pissed off citizens who paid into social security their entire lives, and yet Congress gets health care suited for the top one percent on our dime. And I believe their children inherit this health care too. Congress over the past 3 decades just became criminals and robbed us blind. They are the real criminals. And each one should be held to account.
Excellent article by Michael and interview by Greg Hunter.
I heard one Christian preacher/forecaster, say that he thought Trump was handed the potus position, by God, to help us christians, make it through the coming judgments. Yes judgments upon a heathen nation which has been in the very House of the People for decades.
Heathen, is a nation that kills and sells baby parts.Heathen is a nation that supports and condones lying and violence as a means to shut up conservatives and christians.Heathen is a nation that held a sting operation at the largest sporting event of this year (superbowl), and arrested 700 buyers of sex and 20 traffickers. Many of those prostituted were underage boys and girls.
Speaking of underage children being sold as sex slaves...as with Pizzagate; it was reported by an anonymous source to Edward Glinka, that wrote in his new book, "the Planned Collapse of Americanism"; that then potus odrama, ordered a child for a white house party, at the cost of $65,000.00. ????
Heathen is a Nation that supports and elects these liberal excrements of evil, into positions of power, and a media that upholds it.Maranatha!
"Family Christian is closing all of their 240 stores"It's a sign from Satan! (kidding)
Last of all I want to remind you that your strength must come from the Lord’s mighty power within you.
Put on all of God’s armor so that you will be able to stand safe against all strategies and tricks of Satan.
For we are not fighting against people made of flesh and blood, but against persons without bodies - the evil rulers of the unseen world, those mighty satanic beings and great evil princes of darkness who rule this world; and against huge numbers of wicked spirits in the spirit world.
So use every piece of God’s armor to resist the enemy whenever he attacks, and when it is all over, you will still be standing up.
But to do this, you will need the strong belt of truth and the breastplate of God’s approval.
Wear shoes that are able to speed you on as you preach the Good News of peace with God.
In every battle you will need faith as your shield to stop the fiery arrows aimed at you by Satan.
And you will need the helmet of salvation and the sword of the Spirit - which is the Word of God.
Pray all the time. Ask God for anything in line with the Holy Spirit’s wishes. Plead with him, reminding him of your needs, and keep praying earnestly for all Christians everywhere.
THERE IS NO GOD
There is no SnodtBlossom!!!!
once again not a word about our numerous war crimes
What is needed by Christians has already been provided:
John 6:63The Spirit alone gives eternal life. Human effort accomplishes nothing. And the very words I have spoken to you are spirit and life.
2 Timothy 3:16-17
1 John 2:26-27
They WILL be held accountable!
The biggest holder of US Treasuries is not the Federal Reserve, but rather the US government itself which owns nearly $6 trillion of outstanding US Treasuries through its various agencies with the largest of those being the Social Security and Medicare trust Funds.
The Federal Reserve only holds about $2.5 trillion of US Treasuries which is less than 14% of the outstanding total of nearly $20 trillion. And the Federal Reserve only annually purchases about 8% of the around $7 trillion of newly issued US Treasuries. Most of those US Treasuries are issued to replace maturing US Treasuries with net new issuance of around $1.4 trillion a year in Fiscal 2016.
Moreover, those $2.5 trillion of US Treasuries owned by the Federal Reserve are essentially INTEREST FREE to the US government as the Federal Reserve rebates more than 94% of its profits each year to the US Treasury and its taxpayers.
Another naive myopic view of an underlying asset class while excluding the $500+ trillion in derivative instruments which are directly correlated to those hypothecated assets.
What an utterly clueless and off the wall assertion. What I stated is 100% correct and derivatives have nothing whatsoever to do with federal government debt or federal spending. By the way, the actual amount of money in derivatives is about 1% of their notional (nominal) face value as they are little more than gambling bets with premiums paid somewhat similar to insurance premiums.
You've proven beyond any doubt whatsoever that you do not even have a clue what a derivative is. Roflmao
Please do explain just why you "think" derivatives have any relevance at all to the federal debt and deficit situation and just what you "think" derivatives are including the distinction between regular and synthetic derivatives.
Too funny for words. :)
Yes, that is a good description of your utterly clueless nonsense!
By the way, he actual amount of money in derivatives is about 1% of their nominal face value as they are little more than gambling bets = still rotflmao from that utterly clueless beyond nonsense. ROTFLMAO
So, you KNOW NOTHING AT ALL about derivatives just as I expected. Sad.
Knowing less that nothing = notional value not nominal value. ROTFLMAO!!!