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Federal Reserve Sends Record $88.4 Billion Profit to U.S. Treasury

Discussion in 'Political Debate & Discussion' started by InTheLight, Mar 18, 2013.

  1. InTheLight

    InTheLight Well-Known Member
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    The Federal Reserve sent a record $88.4 billion in profits to the U.S. Treasury last year, audited results showed on Friday, a big payday for the government thanks to the central bank's massive bond purchases.

    The income came mostly from $80.5 billion in interest on Treasury bonds and mortgage-backed securities, according to the annual financial statements audited by Deloitte. Total Fed bank assets stood at $2.9 trillion at the end of last year.

    http://www.huffingtonpost.com/2013/...ord-profit_n_2884366.html?utm_hp_ref=business
     
  2. Salty

    Salty 20,000 Posts Club
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    88 Billion is a big number, but I look at it this way:

    I am $160 in debt - and someone gives me a one-dollar bill to help pay on my debt.

    At 3% interest, I would owe $4.80 interest per year. So that one dollar will only make my total debt 163.70 for the year, instead of 164.80.

    Our country is in serious financial trouble. :tear: and it looks like it is only going to get worse.
     
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