Congress has lost its mind...

skysidhe · 07-19-2011, 10:02 AM

On Topic.

Just looking at the table, I see borrowing from the federal reserve has gone down by 5% from 2007-2008 and foreign borrowing has increased 3% in the same time frame.

I could be wrong, but I am thinking this is the case because there wasn't any money in the federal reserve outside of making money and raising the taxes on SS and raising the retirement age. Doesn't the government borrow (spend ) 40% of whatever is generated already. I understand the need not to default on debts but I think the government needs to also make some cuts in spending as well.

07-19-2011, 10:02 AM	#11
skysidhe ~~Life is either a daring adventure or nothing.~~ Join Date: Apr 2006 Posts: 6,828	On Topic. Just looking at the table, I see borrowing from the federal reserve has gone down by 5% from 2007-2008 and foreign borrowing has increased 3% in the same time frame. I could be wrong, but I am thinking this is the case because there wasn't any money in the federal reserve outside of making money and raising the taxes on SS and raising the retirement age. Doesn't the government borrow (spend ) 40% of whatever is generated already. I understand the need not to default on debts but I think the government needs to also make some cuts in spending as well.

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