Posted on 08/29/2013 1:06:58 PM PDT by whitedog57
The exploding Federal debt and trillion dollar deficits is well known. At least the rate of growth in Federal debt and deficits has begun to slow a little. Federal budget deficit is now below a trillion.
usdc082913
USDebtClock.org estimates that unfunded liabilities are $125 trillion, but James Hamilton estimates that off-balance liabilities are “only” $70 trillion. In either case, these are scary numbers for our children and grandchildren. Not to mention me.
The good news in this swamp of foul-smelling debt and unfunded promises is that GSE (Fannie Mae, Freddie Mac, etc) liabilities have flat-lined in recent years since the collapse of the housing market and the stewardship of FHFA Director Ed Demarco.
gsefed
Between 2000 and 2009, GSE liabilities were higher than Federal debt (to investors)! Only in 2009, did the Federal debt explode while GSE liabilities actually declined to $7.69 trillion.
While Congress discusses the future of GSEs, particularly Fannie Mae and Freddie Mac, there is one argument for keeping Fannie Mae and Freddie Mac in place: Obamacare.
The last time the Obama Administration and Democrats sought to “reform” something, we got the disastrous Affordable Care Act (aka, Obamacare). ‘
Why would we expect any reasonable housing reform from the same Administration and political party that gave us Obamacare? Heck, even though the Republicans hold a majority in the House of Representatives, they can’t get Speaker John Boehner to defund it.
Here is a picture of the Obamas with House Speaker John Boehner.
obamagrumpycatE
Where?
Why should any of us be worried? We can’t pay this. They try to take my stuff a bunch of people end up dead. How’s that going to work happening millions of times over.
“Gone Galt; Not averse to Going Bronson.”
LOL! Love it. And I loved your point.
The world has gone mad.
I sure don't mean to pick an argument with you, whitedog57, but has the world gone mad, or the feral government?
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