Monday, May 10, 2010

ObamaBudget's Hidden Deficit-Enlargement Tool

Nothing but good news--if you really, really like deficits.

Although Treasury’s funds under the senior preferred stock purchase agreement permit us to remain solvent and avoid receivership, the resulting dividend payments are substantial. Given our expectations regarding future losses and draws from Treasury, we do not expect to earn profits in excess of our annual dividend obligation to Treasury for the indefinite future. As a result of these factors, there is significant uncertainty as to our long-term financial sustainability. --Fannie Mae

S'pose that's figured into the ObamaDeficit machine?

HT: Ticker

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