Wednesday, June 27, 2012
..."Under Obama, Fed’s Holdings of U.S. Debt Have Jumped 452%"
Somewhere, in elementary school perhaps, we've all learned that spending too much, financed by borrowing too much, has no possible successful outcome...
Terence P. Jeffreys recently called attention to this at CNSnews.com:
"On Jan. 28, 2009, a week after Obama’s nomination, the Fed owned $302 billion in U.S. Treasury securities. On April 25, 2012, the latest date reported, the Fed owned five and a half time that much in U.S. Treasury securities--$1.668 trillion. That is an increase from January 2009 of $1.366 trillion—or 452 percent. Under Obama, the Federal Reserve has become the single largest owner of U.S. government debt. When Obama entered office, entities in the People’s Republic of China were the largest holders, followed by entities in Japan. At the end of January 2009, China owned $739.6 billion in U.S. government debt and Japan owned $634.8 billion."
