Did you know that the Fed has quit going further into debt?

Me neither.  Until now.  I was sure debt would be right at $17 trillion, but no!  It is exactly $16,699,396,000,000.00…and has been for 57 days.

Even though the portion of the federal debt that is subject to a legal limit has  not changed in almost two months, the Treasury has continued to sell bills,  notes and bonds at a value that exceeds the value of the bills, notes and bonds  it has been redeeming.

The legal limit, as I’m sure you know, is $16,699,421,095,673.60.  So apparently the government has learned a magic spell powerful enough to keep debt $25 million under the limit, but not enough to reduce it or make it go away.  Alternatively, hundreds or thousands of Americans are practicing treason which can bankrupt the country.

But of course this is trivial, compared to concerns like “white Hispanics” and the difference between “cracker” and “cracka”.

Cheers.

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About wormme

I've accepted that all of you are socially superior to me. But no pretending that any of you are rational.
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4 Responses to Did you know that the Fed has quit going further into debt?

  1. SeanB says:

    Well you can write any value you like into a spreadsheet……….. That is why it is Fiat currency in any case.

  2. Third News says:

    Do ya know the magic spell? Cause I want to go shopping 😉

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