The Ultimate Shell Game: The Federal Reserve Funds 91% Of 2009 U.S. Deficit

Zero Hedge
January 12, 2010

In the current hodge podge of abstract finance, it is easy to get lost in the numbers and lose sight of the forest for the trees. Which is why we provide the ultimate simplification: In calendar (not fiscal) 2009, the US grew its budget deficit by $1.47 trillion. In the same time, the Federal Reserve grew its securities holdings from $500 billion to $1.85 trillion, a $1.34 trillion increase. Keeping it simple: 91% of the budget deficit increase in 2009, under the authority of President Obama, was funded by the… United States.

This article was posted: Tuesday, January 12, 2010 at 11:52 am

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