Posts Tagged ‘Dept of Treasury’

Fantastic: Obamacare summed up in one sentence

http://www.youtube.com/watch?v=vdnY8r7_fLw

TRANSCRIPT OF THE VIDEO:

“We’re going to be gifted with a health care plan we are forced to purchase, and fined if we don’t, which purportedly covers at least 10 million new people without adding a single new doctor, but…….

- provides for 16,000 new IRS agents,
- written by a committee whose chairman says he doesn’t understand it,
- passed by a Congress that didn’t read it but exempted themselves from it, and
- signed by a President who smokes,
- with funding administered by a Treasury chief who didn’t pay his taxes,
- for which we will be taxed for 4 years before any benefits take effect
- by a government which has already bankrupted Social Security and Medicare,
- all to be overseen by a Surgeon General who is obese, and financed by a country that’s broke.

So what the **** could possibly go wrong?”

Can Congress Force You To Buy T-Bonds?

–SNIP– If Congress can constitutionally create a mandate for individuals to purchase healthcare, then Congress can create a mandate for individuals to purchase financial securities. Which — given the fiscal cliff that we are about to run off, and the reality that more and more sovereigns are dumping dollars and treasuries — could well be a useful weapon in keeping the Treasury’s borrowing costs low and the bread and circuses flowing.

Read more by John Aziz at azizonomics.com

Paying for the Sins Of Your Father And Mother

If you tax refund doesn’t show up this year, you might want to blame your parents - even if they’ve been dead for decades!

So far this year, the Treasury Department has intercepted $1.9 billion in tax refunds - $75 million of which is on debts that are more than 10 years old. Some of the money is being collected from the children of the debtors.

Take the case of 58-year-old Mary Grice.

In 1960, when Grice was 4, her father died leaving her mother to raise five young children. Her mother received survivor benefits from Social Security until the the youngest child turned 18. Social Security claims that in 1977, it overpaid someone in the Grice family. It isn’t sure who.

This year, Grice got a letter saying that they were holding her responsible for the $2996 debt incurred under her father’s Social Security number - and seizing her tax refund to pay for it. The government says that its policy is to seek compensation from the oldest sibling and work down through the family until the debt is paid.

Read more by Jeff Wagner at jrn.com/wtmj/

150 Days Since the Treasury Department Reports Have Shown No Increase in Debt

Sunday, October 13, 2013 marks 150 days since the Treasury Department’s listing of public debt has not moved. The most current Daily Treasury report (October 10) shows “Total Public Debt Subject to Limit $ 16,699,396,000,000; Statutory Debt Limit $16,699,421,000,000.”

The record for these two entries has remained unchanged since May 17, 2013, the first time it recorded the public debt at $16,699,396,000,000.

Why is this important?

The Treasury reports show that the public debt has stayed at just about $25 million under the statutory legal limit . . .

Read more by Alan Joel at CanadaFreePress.com

Get Ready For The Death Of The Petrodollar

Even after seven years of writing macroeconomic analysis for the liberty movement and bearing witness to astonishing displays of financial and political stupidity by more “skeptics” than I can count, it never ceases to amaze me the amount of blind faith average Americans place in the strength of the U.S. dollar. One could explain in vast categorical detail the history of fiat currencies, the inevitable destruction caused by inflationary printing and the conundrum caused when any country decides to monetize its own debt just to stay afloat — often, to no avail.

Bank bailouts, mortgage company bailouts, Treasury bond bailouts, stock market bailouts, bailouts of foreign institutions: None of this seems to phase the gibbering bobbleheaded followers of the Federal Reserve cult. Logic and reason and wisdom bounce like whiffle balls off their thick skulls. They simply parrot one of two painfully predictable arguments:

Read more by Brandon Smith at PersonalLiberty.com

100 Days: Treasury Has Kept Debt Frozen at $16,699,396,000,000

The Treasury Department’s latest official daily accounting of the U.S. government’s receipts, expenditures and borrowings–released this afternoon at 4:00 p.m.–indicates that the legally limited debt of the federal government has now been exactly $16,699,396,000,000 for 100 straight days.

The Daily Treasury Statement released today showed the status of the government’s accounts as of the close of business on Friday, Aug. 23. Because the Treasury does no business over the weekend, the federal government’s debt did not change on Saturday or Sunday.

Read more by Terence P. Jeffrey at CNSnews.com

Treasury Ran $98 Billion Deficit in July–But Debt Stayed Exactly $16,699,396,000,000

The Treasury Department’s Financial Management Service (FMS), which publishes both the federal government’s official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98 billion but that the federal government’s debt remained exactly $16,699,396,000,000 for the entire month.

The FMS said that the deficit went up $98 billion ($97,594,000,000) in the Monthly Treasury Statment for July, which it released on Monday.

At the same time, the FMS said the debt stayed at exactly $16,699,396,000,000 in its Daily Treasury Statements, which are published every business day. The Daily Treasury Statements show the daily value of the federal government debt that is subject to a legal limit set by Congress.

Read more by Terence P. Jeffrey at CNSNews.com

Crony Capitalism And Jack ‘Bailout Bonus’ Lew’s Voyage To Treasury

Submitted by Michael Krieger of Liberty Blitzkrieg blog,

How Jack ‘Bailout Bonus’ Lew Got To Treasury

As I and many others have pointed out for years, unless you are a crony Wall Street welfare queen you can pretty much forget about any high level position in the Obama Administration.  Barack made that clear from day one when he decided to surround himself with two of the people at the core of the 2008 financial crisis, Larry Summers and Tim Geithner.  The trend is simply continuing with the current nominee for Treasury Secretary: Jack “Bailout Bonus” Lew.  The revolving door is institutionalized and at this point as reliable as a Swiss watch.

Read more at ZeroHedge.com

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