Federal Reserve Information

National debt has doubled since financial crisis: budget office

By Joseph Lawler | August 27, 2014 | 10:09 am

Deficits will continue to shrink next year, according to the CBO, lowering the federal debt....

The federal debt this year will be double what it was before the financial crisis, Congress’ official budget scorekeeper projected Wednesday morning.

The debt is on pace to reach 74 percent of the country’s economic output by the end of the year, double what it was in 2007 and the highest percentage since 1950, according to the Congressional Budget Office.

In its update to its projections for the budget and economy, the agency slightly upped its estimate for the 2014 deficit, which it now expects to total $506 billion, a $170 billion decline from 2013.

That’s lower than the White House’s projection of $649 billion and would be the smallest deficit since 2007. For the first time, the CBO expects federal tax revenues to eclipse $3 trillion, compared to $3.5 trillion in total spending.

Deficits will continue to shrink next year, according to the CBO, lowering the federal debt. But then they’re expected to begin rising again in 2016, eventually bringing the federal debt up to 77 percent of GDP in 2024.

That debt trajectory will have serious consequences if unaddressed, the CBO warns, including “restraining economic growth” and “eventually increasing the risk of a fiscal crisis.”

The total cumulative deficits between this year and 2024 will be $7.2 trillion, the CBO said. That’s $422 billion less than their previous estimate, a change mostly due to the agency’s expectation that interest rates will not return to historical ranges even after the economy has recovered from the financial crisis, lowering the Treasury’s payments on federal debt interest payments.

The forecasters at the CBO share the view of economists in the Obama administration and at the Federal Reserve that the economy’s poor performance in the first half of the year was partly due to the brutal winter that slowed sales in many states. They have higher expectations for the economy over the next few years than Fed or Wall Street forecasters do, projecting GDP growth to rebound to 3.4 percent annually.

The CBO predicts that the cyclical effects of the recession that officially ended in 2009 will only finish playing out in 2017, when job and output growth will have returned to their potential. In the meantime, the CBO believes there’s plenty of “slack” – unused resources and underemployed workers.

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List Of The Elite That Run The Federal Reserve, Stunning Video

October 10, 2012 11

Proof that the NEW WORLD ORDER has been planned by the elite.

Robert Welch, Founder of The John Birch Society, predicted today’s problems with uncanny accuracy back in 1958 and prescribed solutions in 1974 that are very similar to Ron Paul’s positions today.

This is proof that there are plans in place by the elite to systemically disassemble US sovereignty. I wonder who those elite are.

Here they are!

We Own and Run The Federal Reserve We Are Your Enemy.

1. Lord Jacob de Rothchild,  and 

2. his son Nathaniel,

3. Barron John de Rothchild,

4. Sir Evelyn de Rothchild,

5. Nathan Warburg,

6. David Rockefeller,

7. Henry Kissinger, 

8. George Soros,

9. Paul Volker, 

10. Larry Summer,

11.Lloyd Blankfein,  

12. Ben Shalom.

The FED is a private for PROFIT bankster cartel which controls the money supply. The FED profits off of interest on our national debt when we pay our IRS taxes.

THE HIGHER THE DEFICIT the more PROFIT! The FED has NEVER been audited. Who owns the FED and what COUNTRY are they from?

The Founders REVOLTED from this same “FOR PROFIT” Central Bank system of European Kings. They knew it would eventual lead to debt servitude.


YouTube Video


The King’s Bank came back 1913 along with the IRS when the Federal Reserve Act was established. Both of these institutions are UNCONSTITUTIONAL.

Both of these institutions are planks of the COMMUNIST MANIFESTO! Abolish the FED and IRS and let REAL CAPITALISM return to the U.S. The Crony Capitalism of the Fed Bankster Cartel gives the US a bad name throughout the World.

The Fed, IMF, World Bank finance more cartels to divide the people and bleed their wealth: Democrats, Republicans, Media Moguls, Big Oil, ADM, Big Pharma, etc. Corruption BREEDS Corruption.

The US foreign policy has become just like the British Empire of the Colonial Era. 130 bases in 160 countries(for freedom NOT bankster interests RIGHT?) Wars for natural resources and pipelines fought by the media indoctrinated Patriots, poor, minorities and mercenaries.

Mercenaries = Hessians = Blackwater. History repeats Itself. Let the political, financial and Holleywood elite go fight these wars if they so desire. Fight on the front lines, NOT in the “Green Zone” Google: Jimmy Stewart and WWII.

MILITARY gave highest contributions to Dr RON PAUL! The global financial elite use this system to foment wars thru corruption and media control.

They expand then collapse economies in order to repo real assets and natural resources with paper fiat currency. “Fiat” means ROYAL DECREE.

FIAT currency has value as money because the KING says SO!

They do this over and over thru the world until the middle class is eradicated.

More power and wealth falls into fewer hands. Only kings and slaves remain.

Kings get bailouts, pensions, media protection and real assets and money. (FDR confiscated OUR gold in 1933)

Slaves get war, taxes, terrorist profiling, media derision and inflated fiat currency.

Will you SUBMIT OR RESIST?

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Some information on the Federal Reserve

The Federal Reserve, a Private Corporation

One of the most common concerns among people who engage in any effort to reduce their taxes is, "Will keeping my money hurt the government's ability to pay it's bills?" As explained in the first article in this series, the modern withholding tax does not, and wasn't designed to, pay for government services. What it does do, is pay for the privately-owned Federal Reserve System.

Black's Law Dictionary defines the "Federal Reserve System" as, "Network of twelve central banks to which most national banks belong and to which state chartered banks may belong. Membership rules require investment of stock and minimum reserves."

Privately-owned banks own the stock of the Fed. This was explained in more detail in the case of Lewis v. United States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982), where the court said:

Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stock-holding commercial banks elect two thirds of each Bank's nine member board of directors.

Similarly, the Federal Reserve Banks, though heavily regulated, are locally controlled by their member banks. Taking another look at Black's Law Dictionary, we find that these privately owned banks actually issue money:

Federal Reserve Act. Law which created Federal Reserve banks which act as agents in maintaining money reserves, issuing money in the form of bank notes, lending money to banks, and supervising banks. Administered by Federal Reserve Board (q.v.).

The FED banks, which are privately owned, actually issue, that is, create, the money we use. In 1964 the House Committee on Banking and Currency, Subcommittee on Domestic Finance, at the second session of the 88th Congress, put out a study entitled Money Facts which contains a good description of what the FED is:

The Federal Reserve is a total money-making machine.It can issue money or checks. And it never has a problem of making its checks good because it can obtain the $5 and $10 bills necessary to cover its check simply by asking the Treasury Department's Bureau of Engraving to print them.

As we all know, anyone who has a lot of money has a lot of power. Now imagine a group of people who have the power to create money. Imagine the power these people would have. This is what the Fed is.

No man did more to expose the power of the Fed than Louis T. McFadden, who was the Chairman of the House Banking Committee back in the 1930s. Constantly pointing out that monetary issues shouldn't be partisan, he criticized both the Herbert Hoover and Franklin Roosevelt administrations. In describing the Fed, he remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932, that:

Mr. Chairman,we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and he people of the United States out of enoughmoney to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the UnitedStates; has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.

Some people think the Federal reserve banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into States to buy votes to control our legislation; and there are those who maintain an international propaganda for the purpose of deceiving us and of wheedling us into the granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime. Those 12 private credit monopolies were deceitfully and disloyally foisted upon this country by bankers who camehere from Europe and who repaid us for our hospitality by undermining our American institutions.

The Fed basically works like this: The government granted its power to create money to the Fed banks. They create money, then loan it back to the government charging interest. The government levies income taxes to pay the interest on the debt. On this point, it's interesting to note that the Federal Reserve act and the sixteenth amendment, which gave congress the power to collect income taxes, were both passed in 1913. The incredible power of the Fed over the economy is universally admitted. Some people, especially in the banking and academic communities, even support it. On the other hand, there are those, both in the past and in the present, that speak out against it. One of these men was President John F. Kennedy. His efforts were detailed in Jim Marrs' 1990 book, Crossfire:

Another overlooked aspect of Kennedy's attempt to reform American society involves money. Kennedy apparently reasoned that by returning to the constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money then loan it to the government at interest. He moved in this area on June 4, 1963, by signing Executive Order 11,110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System. That same day, Kennedy signed a bill changing the backing of one and two dollar bills from silver to gold, adding strength to the weakened U.S. currency.

Kennedy's comptroller of the currency, James J. Saxon, had been at odds with the powerful Federal Reserve Board for some time, encouraging broader investment and lending powers for banks that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks could underwrite state and local general obligation bonds, again weakening the dominant Federal Reserve banks.

A number of "Kennedy bills" were indeed issued - the author has a five dollar bill in his possession with the heading "United States Note" - but were quickly withdrawn after Kennedy's death. According to information from the Library of the Comptroller of the Currency, Executive Order 11,110 remains in effect today, although successive administrations beginning with that of President Lyndon Johnson apparently have simply ignored it and instead returned to the practice of paying interest on Federal Reserve notes. Today we continue to use Federal Reserve Notes, and the deficit is at an all-time high.

The point being made is that the IRS taxes you pay aren't used for government services. It won't hurt you, or the nation, to legally reduce or eliminate your tax liability.

http://www.sweetliberty.org/issues/eo/eo2.htm#.VTsYzLFfZ3U


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