Vampire Obama

About: double bookkeeping

source: ... Federal debt and retiree commitments equal $561,254 per household. By contrast, an average household owes a combined $116,057 for mortgages, car loans and other debts.

"By law, the federal government can't tell the truth," says accountant Sheila Weinberg of the Chicago-based Institute for Truth in Accounting.

Jim Horney, a former Senate budget staff expert now at the liberal Center on Budget and Policy Priorities, says retirement programs should not count as part of the deficit because, unlike a business, Congress can change what it owes by cutting benefits or lifting taxes.

"It's not easy, but it can be done. Retirement programs are not legal obligations," he says.

...

... Money is not real to the Government (M.R. 2012)

(**)

Comments

Mark de LA says

source: ... 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.

... Together, the Federal Reserve, China and Japan had increased their holdings of U.S. debt by $2.2445 trillion since Obama took office.

...
That's like backing one's own credit cards. It is also a good rationale for what Ron Paul wanted - i.e. AUDIT the FED.

Mark de LA says

The live widget can be found here: http://www.truthin2010.org/widget/

Mark de LA says

(**)Why Obama you might ask? Obama probably doesn't carry a wallet with money in it - most presidents don't. He probably doesn't go out and shop in a grocery store. He speaks & billions of $$ get spent by the government &/or million$ come into his campaign. He doesn't have a budget for the USA nor does he balance it if he had one. I doubt that he ever worked & contributed real labor to any product which was sold. Being a lawyer or a professor doesn't count as work in my book.

.... so why should money be real to him?