Tax and Spend

The Fed and government debt.

"the enormous, bankrupting national debt has mysteriously stabilized, at $16.738 trillion, for the last few months in a row, probably connected to it being obviously MORE than the Congressionally-mandated $16.699 trillion debt limit.
And I’m supposed to believe that this static-yet-enormous amount of debt is for real, despite large and continuous creations of currency and credit by the evil Federal Reserve so that the selfsame evil Federal Reserve can use the currency and credit to buy more government debt, to the tune of $9.55 billion three weeks ago, $29 billion two weeks ago week, and a whopping $39 billion last week?
At this point my heart is beating noticeably faster, teeth grinding harder, and I’m actually hyperventilating after noting that the Federal Reserve bought, outright, a tidy $782 billion in U.S. government debt in the last twelve months. This is 23 percent of the entire monetary base!"

That's less than $85 billion a month which would be $1020 billion a year.

"It turns out, I am sorry to say, that it’s a trick.  Jack Lew, Secretary of the Treasury, wrote to John Boehner as Speaker of the House, to tell him that the Treasury was using “the standard set of extraordinary measures” that would allow the Treasury to continue to borrow and spend at a rate of $4 billion a day, but arrange to keep it off the books.
Ergo, not a penny of it will show up on the Daily Treasury Statement."

Must be nice.

"Then I happened to read that Ben Bernanke, chairman of the Federal Reserve Bank, casually figures that the Treasury is not reporting its exploding debt because it is using “an accounting device,” which is apparently OK with Bernanke because it will give the up-against-the-debt-ceiling Treasury — get this! — “some extra head room.” "

That accounting device has a name: corruption. This essay is hilarious.

Another report that Treasury Secretary Lew is lying about the on budget debt, the ceiling of which passed months ago. The BBC tells it like it is:

"This warning is silly. The U.S. government has obviously been over the limit ever since late May. The world knows this. "

But the American people don't, and they don't read the BBC, so the government gets away with lying and lawlessness.

"CNSNews.com) – 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."

Americans don't care about that either.
Lack of money causes Detroit to stop issuing birth and death certificates.