Federal Reserve earned $45 billion in 2009

In our area, local governments are flirting with "speeding cameras," and "red light cameras."

There's almost no talk about safety...but we're constantly reminded how much money it will bring in.

I'll concede that if the money is returned to the treasury (big "if" with regards to the future...or even if it's happening as we're told), then hey...at least that part of the government isn't bankrupting us.

But our government is so addicted to the crack cocaine of revenue...I fear the damage may have already been done.

I'm kind of partial to the quaint idea of "cutting back." Unfortunately, our D leaders, and almost all of our R ones, are not.

 

So is the constitution but then they do not really care about that.

 

How long will it take for congress to spend this 45 billion that they have on paper?

And does this 45 billion even matter when put against the 68.5 billion loss for TARP for the fiscal year ended September 30, 2009?

Don't be fooled, Crabby. The government doesn't earn anything.

They just tax and spend.

 

I'm all for govbenments bringing in revenue. But I don't favor governments spending said revenue just because they've got it to spend. I think we're all in agreement on that point.

 

Guys, the Federal Reserve is not a branch of the federal government.

 

The point should be that quasi-government agencies can "earn" profits. <G>

 

That's good. We should use that money to pay down the national debt.

 

You're right, but did someone say they were?

 

I wonder how much of those "earnings" were in the form of interest on Federal obligations such at bonds and bills?

That would be interest paid by the Federal government.

IOW - our tax money.

 

There's a "Peter/Paul" joke in there somewhere, isn't there??