Guest guest Posted April 7, 2011 Report Share Posted April 7, 2011 http://www.cnsnews.com/commentary/article/jeffrey-true-government-spending-topped Last year the federal government actually spent $11 trillion dollars, not the $3 trillion Obama said. Why? Debt came due and had to be paid for, with more debt. What happened is very simple. The Treasury and Fed have been playing a very dangerous game in the last few years of buying short term notes to take advantage of the artificially low interest rates set by the Fed. Some of these notes had less than 1 year maturity dates. The government morons still haven't learned their lesson. Of the $8.6 trillion bought off in 2010, $6 trillion was short date notes that will have to be paid off in 2011. So, we will be looking at $6 trillion more in debt from that, plus any other debt they will have to pay off, plus the regular deficit which is already looking to be 8 times what the government is taking in as revenue. Quote Link to comment Share on other sites More sharing options...
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