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US gov't reports $116.5 billion surplus in June

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posted on Jul, 11 2013 @ 04:54 PM
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WASHINGTON (AP) — The federal government on Thursday reported a rare surplus of $116.5 billion in June, the largest for a single month in five years. The gain kept the nation on track for its lowest annual deficit in five years.



The June surplus was due in part to $66.3 billion in dividend payments from Fannie Mae and Freddie Mac. The mortgage giants were taken over by the government at the height of the 2008 financial crisis and are now repaying taxpayers for the support they received.


finance.yahoo.com...

Fanny and Freddy paying dividends?

Government owned Fanny and Freddy after a $187 Billion dollar bailout

Fanny Mae has $3.2 Trillion in assets, and net income of $17.2 billion dollars.

Freddy Mac has $1.9 Trillion in assets, and net income of $10 billion dollars.

I know my math sucks, but $187 > than $116 YES?.

So what SURPLUS?

Fannie, Freddie execs score $100 million payday

edit on 11-7-2013 by neo96 because: (no reason given)




posted on Jul, 11 2013 @ 05:03 PM
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reply to post by neo96
 


Looks like we can go back to our lavish prostitution parties!!!

~The Secret Service



posted on Jul, 11 2013 @ 05:45 PM
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reply to post by neo96
 


Well now Obama can claim that is enough "tax dollars" to finance his pledges with over sea countries like Syria, Egypt and Africa.

Sorry but the news are wrong, that is not surplus that is tax payer dollars that should be returned after the bailouts are pay out



posted on Jul, 11 2013 @ 05:55 PM
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Surprise: Fannie and Freddie Are Set to Pay Taxpayers Back


After five years of losses totaling an unprecedented $164 billion, Fannie Mae earned a $17 billion profit in 2012, its most profitable year ever. Freddie Mac, which racked up $94 billion in losses between 2007 and 2011, earned $11 billion in 2012. Both agencies have stopped drawing taxpayer money, and through the end of 2012 they had remitted $55.2 billion worth of dividend payments to the Treasury.

It's now possible to foresee the point at which the two agencies will pay back all the taxpayer money they required. Moody's Analytics estimates that on their current course, Fannie and Freddie will return everything they owe by 2019. The break-even date could occur much sooner—perhaps just a couple of years from now—if the agencies are permitted to claim a tax break allowing them to deduct some portion of past losses.


It's not a surplus, it's a payback, and they have already been paying us back since last year.



posted on Jul, 11 2013 @ 05:58 PM
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reply to post by HauntWok
 


They?

Fanny and Freddy back over 95% of all US mortgages so that means who?

The Taxpayer.


Fannie Mae and Freddie Mac currently back nearly two-thirds of U.S. mortgages, while FHA loans, which are also sponsored by the government, account for just over 30 percent of the market total, analysts say. In the wake of a housing bust that has left banks and private investors leery of buying mortgages, the three entities now underwrite or insure about 95 percent of mortgages originated today.


The Biggest MONOPLY in the US
edit on 11-7-2013 by neo96 because: (no reason given)



posted on Jul, 11 2013 @ 06:09 PM
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reply to post by neo96
 


Never give the hate a rest do ya Neo?

*Sigh*

Fannie and Freddie back mortgages, this is true, but it's not taxes that are paying our bailout of them back, it's people who are paying their mortgage. Isn't it nice news that people are able to pay their mortgage and therefore Fannie and Freddie are able to pay us taxpayers back for our investment?



posted on Jul, 11 2013 @ 06:12 PM
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Originally posted by HauntWok
reply to post by neo96
 


Never give the hate a rest do ya Neo?

*Sigh*

Fannie and Freddie back mortgages, this is true, but it's not taxes that are paying our bailout of them back, it's people who are paying their mortgage. Isn't it nice news that people are able to pay their mortgage and therefore Fannie and Freddie are able to pay us taxpayers back for our investment?



What?


After five years of losses totaling an unprecedented $164 billion,


Yeah that's sure some place I or anyone else except government stupidity would invest.
edit on 11-7-2013 by neo96 because: (no reason given)



posted on Jul, 11 2013 @ 07:21 PM
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The 'surplus' could just be an accounting trick.

Fannie's and Freddie's 'profits' could easily be an accounting trick.

Elections are looming and the 'guvament' needs all the political help they can get.

I wonder how much 'debt' they have diverted or somehow delayed ?



posted on Jul, 11 2013 @ 07:26 PM
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here's some indicators that F & F may actually be Ponzi schemes....

there's more to it than meets the eye of the average borrower.

it is a bankers and insurance company's wet dream.

How does Fannie Mae make money?

7 Things You Need to Know About Fannie Mae and Freddie Mac



posted on Jul, 11 2013 @ 07:45 PM
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reply to post by HauntWok
 


How about the QEs that the government is still paying to the big to fail every month at a tune of 80+ billion the last time I check the Fed is still doing the deposits on it.

Yeah, is nice to be able to pay back with more money from the tax payers, a vicious cycle.

What a joke, we the tax payer are still the losers.



posted on Jul, 11 2013 @ 07:46 PM
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reply to post by xuenchen
 


It is a trick they are using the same money that the Fed gives away with the QEs then they call it surplus.




posted on Jul, 11 2013 @ 08:58 PM
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reply to post by neo96
 


Surplus???


Ya, and unemployment is now down to 3%, too.

Things are going GREAT!! What's next??



posted on Jul, 11 2013 @ 09:02 PM
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Originally posted by seabag
reply to post by neo96
 


Surplus???


Ya, and unemployment is now down to 3%, too.

Things are going GREAT!! What's next??


Really don't want to even contemplate that if this is what 'great' is really don't want to see what 'bad' is.



posted on Jul, 11 2013 @ 09:18 PM
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reply to post by neo96
 




I demand a rebate check !

Signed,

(Taxpayer who doesn't pay Taxes)



posted on Jul, 12 2013 @ 02:44 AM
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reply to post by marg6043
 



Yeah, is nice to be able to pay back with more money from the tax payers, a vicious cycle.


Taxes aren't paying us back, it's mortgage payments. It's just that simple, It's not taxes that are paying off the loan that the government gave Fannie and Freddie. It's the mortgage payments people pay because THEY BOUGHT A HOUSE.

Kinda like the fact that the reason that they failed to begin with is that the people who bought more house than they could possibly afford defaulted on their loans?

You guys are seeing a scam where none exists.



posted on Jul, 12 2013 @ 08:03 AM
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reply to post by HauntWok
 


You call it mortgages payment and that is fine with me, but you forget that most of the "mortgages" that were write out were at the expenses of the tax payers, Ok, is nice and dandy that some can pay back their mortgages now, but guess what it was trillions of dollars lost because the write outs and we the tax payer are still stuck with it, thank the QEs for it, see the government and the fed doesn't want to call it " bailouts" anymore but is just the same using the Tax dollars to keep the banking system and "those mortgages" that are still at default from bankrupting the banks.

So the government claims a surplus, but that is only in the eyes of the beholder when this year revenue of taxes is 2.06 trillion and the government already spend 2.9 trillion this year, they are good playing with numbers and words, "they spend less than, or more than less" that deceiving practice they inherited from the Bush administration that was great at confusing the people with words to sugar coat the countries economy.

Also interest are lower than the previews year at 4% that helps with numbers too, interestingly also they are not talking about how the national deficit has increased because the way for the Obama administration to keep the poor and unemployed happy is with more foods stamps and welfare.

Still Obama had increased the deficit during his administration to record numbers that nobody seems to look at, to compare that is deceiving when you claim a surplus of 116.5 billions when the government only took 2.6 trillion and spend already 2.9 trillion and the year is not even over, perhaps that is the money that he will claim to pay out the pledge to foreign countries this year while stealing with furlongs the working class government workers, no even the high earners those get to enjoy bonuses.

Is a scam is a scam and is a big rat



posted on Jul, 12 2013 @ 01:10 PM
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reply to post by marg6043
 


Indeed and we know who created that new trillion dollar student loan debt that those who took out can't pay back because hell they have no jobs.

So WE are all on the hook for that.

I agree anyone takes a good look at government knows there is 'fuzzy math' at play.
edit on 12-7-2013 by neo96 because: (no reason given)



posted on Jul, 12 2013 @ 01:56 PM
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What a delicious bucket of oats for all the sheep.

I'm sorry....the way I was taught...you don't really have money if you have debt...you might have paid this months bills, but that does not mean you can run out and spend the cash left in your pocket...

So they "say" we have 116.5 billion in surplus...

There is no such thing as surplus when you have 16 trillion dollars in debt...

This is just BS to make the herds continue to graze un-alarmed...



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