At the end of this last fiscal year the Fed had to borrow $1.423 Tril. So if the last year deficit was $587 Bil, where do you think Obama stashed away the extra $836 Bil that the Fed borrowed.
“At the end of this last fiscal year the Fed had to borrow $1.423 Tril. So if the last year deficit was $587 Bil, where do you think Obama stashed away the extra $836 Bil that the Fed borrowed.”
As I indicated in another post, the amount of money the government borrows in a given year does not necessarily equal the amount of the deficit. The government is constantly rolling over the accumulated debt as treasury notes and bills become due. Net borrowing in a year includes the amount the government funds to cover the current year deficit plus the amount the government borrows to cover debt being rolled over, plus “off budget” borrowing by agencies whose budgets are not included in the annual budget approve by Congress.