Durk Pearson & Sandy Shaw’s®
Life Extension NewsTM
Volume 16 No. 3 • March 2013

Reducing Federal Deficit the Federal Reserve Way

The Jan. 31, 2013 Wall Street Journal reports that the Federal Reserve has announced (after their first policy meeting of 2013) that they plan to continue purchasing $85 billion a month of mortgage-backed and Treasury securities. Meanwhile, the fourth quarter of 2012 showed the economy contracting by 0.1%, despite the massive amounts of Federal Reserve funny money flooding the economy.

“Many Fed officials want the two sides [Republicans and Democrats] to come up with a plan that reduces federal budget deficits over several decades [!!], without pulling back so fast that it crushes economic growth.” As if economic growth is doing fine with the federal budget deficit as it is … One can easily see that a “plan” to reduce the deficit over several decades is a way of ensuring that it will never happen.

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