Wednesday, May 12, 2010

The Feds' New Math

Ticker notes that the ACTUAL April Federal deficit was ~$175 Bn.

About twice what the lying liars at Treasury (a triple-repeat) said.

Treasury didn't count the stealing from FICA and Medicare accounts....

1 comment:

steveegg said...

Looking through the Monthly Treasury Statement, a big part of that debt increase was recapitalizing the Supplementary Financing Program, to the tune of $75 billion in April. Since it's cash held at the Federal Reserve on behalf of the Treasury, it's "revenue-neutral" as far as the MTS is concerned.