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originally posted by: Irishhaf
a reply to: 1947boomer
Qauntitative easing, pumping billions into the market to keep interest rates low, absolutely fubaring anyone in the middle class that was trying to plan for retirement.
On top of continuing Bush's To big to fail, Obama could have done the right thing and pushed to stop the bailouts of big banks and mortgage companies instead he rolled over then doubled down by vowing to keep the interest rate low costing people who had managed to put money away quite a lot of cash over his 8 years.
To big to fail and qauntitative easing are linked, because it was pretty much the last arrow in the quiver for the fed.
The largest increases were in the following categories:
In total, spending for the three largest mandatory programs increased by 4 percent:
Outlays for Social Security benefits rose by $39 billion (or 5 percent), because of increases both in the number of beneficiaries and in the average benefit payment.
Medicare spending increased by $22 billion (or 4 percent) because of increases both in the number of beneficiaries and in the amount and cost of services. The increase in spending was partly the result of an additional reconciliation payment made to Medicare Advantage plans to account for unanticipated spending increases in the current calendar year.
Medicaid outlays rose by $13 billion (or 4 percent), in part because more new enrollees were added through expansions of coverage authorized by the Affordable Care Act.
Outlays for net interest on the public debt increased by $55 billion (or 19 percent), partly because of a higher rate of inflation. To account for inflation, the Treasury Department adjusts the principal of its inflation-protected securities each month by using the change in the consumer price index for all urban consumers that was recorded two months earlier. That adjustment was $34 billion in the first 11 months of fiscal year 2017 but $60 billion so far in the current fiscal year.
The remaining increase reflects higher interest rates and larger debt in the first 11 months of 2018.
Spending for military programs of the Department of Defense rose by $33 billion (or 6 percent).
The government received $20 billion less in total payments from Fannie Mae and Freddie Mac, resulting in higher outlays (included in “Other” in the table below and revised downward from last month’s estimate of $22 billion to reflect year-to-date net transactions).
Outlays of the Department of Homeland Security (included in “Other” below), increased by $21 billion (or 48 percent), largely because of activities related to disaster relief.
Where were you when Federal deficit spending exploded from 2006-2010?
originally posted by: CB328
Where were you when Federal deficit spending exploded from 2006-2010?
That was to save the country. Trump is doing it because he's corrupt- big difference.
originally posted by: Irishhaf
a reply to: 1947boomer
"Qauntitative easing, pumping billions into the market to keep interest rates low, absolutely fubaring anyone in the middle class that was trying to plan for retirement.
"On top of continuing Bush's To big to fail, Obama could have done the right thing and pushed to stop the bailouts of big banks and mortgage companies instead he rolled over then doubled down by vowing to keep the interest rate low costing people who had managed to put money away quite a lot of cash over his 8 years.
To big to fail and qauntitative easing are linked, because it was pretty much the last arrow in the quiver for the fed.