Tuesday, July 30, 2013

Lack of Truthiness

According to many polls, citizen's faith in government is at all time low.  As more and more topics are revealed regarding how we've been misled, it seems that lack of faith has some basis.  But it still saddens me as more and more government agencies and individuals employed by government come out as lying to us.

Up today is the Treasury Department.  In general they just focus on the numbers, not spin.  Like the IRS they base their work in math.  Well, that's how the IRS used to operate anyway, recent scandals have shown otherwise.  But not the Treasury!  Right?

According to their records, the national debt has been static for 70 days.  No changes.  Contrary to the entirely of the debt history where it changes (up or down) on a pretty regular basis, for more than two months it's been at exactly the same number- $16,699,396,000,000.00.  Oddly enough that amount is just below our borrowing cap.

I mean, they could be not issuing any debt right?  Well, keep in mind that as part of QE Infinity the Federal Reserve is buying $85 billion in federal bonds.  Every monthBernanke himself just said they plan to keep it up.  If you aren't up on financial concept of bonds it's an agency selling debt.  You buy a bond and the issuer pays you back interest.  It's the main way the federal government incurs debt.  And during the period where the Treasury says the debt hasn't increased a nickel, one single organization alone has caused the federal government to take on an addition $170 billion in debt. 

But no worries folks!  The treasury says we are still $25 million under our debt ceiling, just like we were back in the spring.  And the government propaganda news corporations have been talking it up like it's a good thing, not tremendous fraud. 

Welcome to the future.

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