FISCAL SUICIDE: Is Obama Opening up the Federal Spending Floodgates to Get Hillary Elected?
During the last year of his reign of error, our beloved Nobel Peace Prize winner, Obama ran out of government accounting gimmicks to falsely proclaim Federal deficits have been falling. His legacy of debt accumulation will go down in history as the last dying gasps of a crumbling empire built upon Keynesian delusions, political corruption, and a Deep State establishment hellbent upon retaining power at the cost of global war and financial collapse.
The entirely fabricated government propaganda data point known as the Federal deficit skyrocketed by 34% in fiscal 2016 (Federal year is Oct. 1 to Sept. 30). The reported deficit in FY15 was a mere $438 billion. Obama and his brain dead minions had boasted about such a small deficit. The country has been in existence for 227 years and Obama had the balls to boast about “achieving” the 8th highest deficit in our history. Just for some context, the savior also led the country to the 1st, 2nd, 3rd, 4th, 5th, and 6th highest deficits in the country’s history. Bumbling Bush achieved the 7th highest in the glorious year of 2008.
The $149 billion surge in the reported deficit to $587 billion is a national disgrace and happened during a year in which we supposedly aren’t waging any real wars. Even with artificially suppressed interest rates, interest on the national debt went up by $30 billion. The Obamacare abortion has caused healthcare spending to soar, blowing a hole in the Federal budget. Remember Obama bloviating about Obamacare not adding one dime to the national debt? He was right. It’s adding trillions of dimes to the national debt. But, at least every family in America has gotten that promised $2,500 savings in their annual premiums. Right?
Another reason for the surge in the reported deficit is the little accounting trick the Obama administration has been playing for years. Fannie Mae and Freddie Mac are insolvent zombie Federal Agencies. With the suspension of mark to market accounting in March 2009, Wall Street banks and these bloated pig agencies were free to fraudulently value the mortgages on their balance sheets.
Poof!!! Wall Street bank profits miraculously recovered. Fannie and Freddie began reporting tens of billions in fake profits. They then pretended to pay these fake accounting profits to the Treasury, thereby “reducing” the reported deficits. Last year Fannie and Freddie ran out of fake profits and are now losing money again. And the establishment wonders why the peasants are revolting. (Read more from “FISCAL SUICIDE: Is Obama Opening up the Federal Spending Floodgates to Get Hillary Elected?” HERE)
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