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As China begins to say "no thanks" to US debt the Obama administration says "no problem", we will get the money from the Federal Reserve instead.

Statistics from the federal government document how the Federal Reserve over the course of 2009 bought about 80 percent of the $1.5 trillion borrowed by the U.S. Treasury.

Robbing Peter to pay Paul! It is the equivilent of a family borrowing money from Visa to pay the MasterCard bill!

http://www.wnd.com/index.php?fa=PAGE.view&pageId=121993

Wasn't this a great idea???????
How long do you think this can go on before a total financial collapse?



 
yourspecialkid

Asked by yourspecialkid at 11:11 AM on Jan. 15, 2010 in Politics & Current Events

Level 35 (74,634 Credits)
This question is closed.
Answers (18)
  • It's official.
    We've hit Barack Bottom.
    I'm gettin to like that phrase.......................
    jewjewbee

    Answer by jewjewbee at 11:26 AM on Jan. 15, 2010

  • yourspecialkid

    Answer by yourspecialkid at 11:11 AM on Jan. 15, 2010

  • I am sure the collapse cannot come soon enough for Obama and crew
    tnmomofive

    Answer by tnmomofive at 11:16 AM on Jan. 15, 2010

  • Pretty soon it will all come crashing down like a stack of dominoes and we will all be out on the streets scratching our asses, wondering what the f** happened. We who have been harping on what is going to happen can then say, "We told you so" but by then we will all be in the same boat, and that will be cold comfort. Obama is taking us all over the cliff as fast as possible.
    pagan_mama

    Answer by pagan_mama at 11:21 AM on Jan. 15, 2010

  • yourspecialkid

    Answer by yourspecialkid at 11:25 AM on Jan. 15, 2010

  • I knew it was bad, I just didn't realize it was quite this bad. This is a very serious situation. The Treasury doesn't sell to the Fed unless there are no other buyers.

    Food and gold ladies, food and gold.
    yourspecialkid

    Answer by yourspecialkid at 11:28 AM on Jan. 15, 2010

  • House of cards.....enough said.
    tyme4me2day

    Answer by tyme4me2day at 11:28 AM on Jan. 15, 2010

  • rolling on floor        It's official.
    We've hit Barack Bottom.
    I'm gettin to like that phrase.......................


     


    Now ya'll just---GIVE HIM TIME----IT'S ALL BUSH'S FAULT---YA'LL JUST HATE HIM CAUSE HE"S BLACK-----------


    That should cover that OP.  LOL

    Anonymous

    Answer by Anonymous at 11:31 AM on Jan. 15, 2010

  • Wait wait Wait...but but but Beck said something stupid last week...and Limbaugh said something stupid YESTERDAY...THATS the REAL concern!!! NOT what the people in POWER are doing!!!!eye rolling


    Bet this doesnt get a whole lot of lib responses....the important policy questions never do.


     

    momof030404

    Answer by momof030404 at 11:33 AM on Jan. 15, 2010

  • ^^^they are also stuck on Palin not being able to spit out the name of her favorite founding father.... :)


    It won't get many lib responses, they are stuck on the Haiti questions....all the while being thankful that "something" is distracting the conservatives from whatever crap Obama is dishing out now......

    Not all of us are distracted though!
    yourspecialkid

    Answer by yourspecialkid at 11:45 AM on Jan. 15, 2010