Fannie Mae—you already forgot all about it, didn’t you?—well, it just reared its ugly head again with its Q2 earnings report. Here is the most important number:
$5.1 billion in new bailout money from the U.S. Treasury—the eleventh quarter in a row it has received bailout money. That brings the total bailout money it received so far to $104.8 billion, with no end in sight.
Debtor Nation
US Gross National Debt jumps $238 billion in one day, now above 100% of GDP
by Wolf Richter • • Comments Off on US Gross National Debt jumps $238 billion in one day, now above 100% of GDP
Your Dollar—up to no Good
by Wolf Richter • • Comments Off on Your Dollar—up to no Good
The Landmine in the GDP Report
by Wolf Richter • • Comments Off on The Landmine in the GDP Report
We Should Give them a Calculator
by Wolf Richter • • Comments Off on We Should Give them a Calculator
Your Dollar
by Wolf Richter • • Comments Off on Your Dollar
A Modest Proposal
by Wolf Richter • • Comments Off on A Modest Proposal
What galls me the most in this entire imbroglio of our debt ceiling is the hypocritical approach of our politicians: A Congress that authorizes every dollar that gets spent, gleefully accumulating a pile of debt so vast it’s hard to wrap your brains around it; and administrations who have been eager to borrow and spend as directed by Congress.
Night of the Living Debt
by Wolf Richter • • Comments Off on Night of the Living Debt
Debt-Ceiling Pissing Match Seen from a Safe Distance
by Wolf Richter • • Comments Off on Debt-Ceiling Pissing Match Seen from a Safe Distance
While Democrats and Republicans, jointly and severally, engage in an all-out pissing match over the national debt ceiling and the budget deficit that even has the Chinese worried, let’s take a moment and reflect from a safe distance on how we got here, and why nothing of significance is going to change.