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Politics : President Barack Obama
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To: ChinuSFO who wrote (134384)6/21/2013 3:37:21 PM
From: RetiredNow  Read Replies (4) of 149317
 
Hello thread. Long time no post! Hope no one is at each other's throats. Anyway, I'm back to take another beating. So how's Obama and Congress doing since I checked last? Well, looks like one measure that I care about...deficits and debt...is actually on the mend!

* Change in US Treasury debt this calendar year so far = $306B incremental (actual realized deficits)

This is extraordinary and means that Obama and Congress have managed to cut the deficit in half since a year or so ago. Very nice.

The flip side of this is that the Fed is finding it no longer needs to engage in such a large QE. Why? Because let there be no doubt, QE was always about funding the deficit without the need to raise taxes too much during an economic recovery. So now we see the risk off that comes from all the tapering talk.

So how far down does the market go? No one knows.

On another front, looks like we are now a surveillance state. All those posts I made about the Patriot Act and FISA laws that were dutifully ignored....looks like the NSA is abusing their power. That was obvious. You can't give a government that kind of power and not expect to lose your freedom from being spied on. Even the Germans were alarmed. Wow.

Lastly, looks like the Obama admin is clearing the way for the Clintons. As I said before, I think Hillary will run again and right now, there is no viable candidate on either side of the aisle that can beat her. So we'll get 4 more years of the Dems. I personally am hoping for a return to the fiscal and monetary moderation of the Clinton years...

Later folks!
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