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Debt and Taxes

Daniel J. Flynn, The American Spectator


The Federal Reserve’s balance sheet exceeds $7.4 trillion (below $5 trillion a year ago, a figure propped up after years of quantitative easing). Its assets grow in direct correlation with the amount of money it lends the U.S. Treasury, which can no longer coax investors to fund its gargantuan deficit. The debt weighs down the economy, becomes more burdensome with the predicted growth of interest rates, and dilutes your dollar. But rather than settling our accounts, politicians held an impeachment trial.

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