The Pension Benefit Guaranty Corp (Federal agency that guarantees bankrupt pension funds) reported Friday that it ended it’s fiscal year with a $34 billion deficit, a 31% increase from the $26 billion deficit reported for the prior year.
QE to Infinity…AND BEYOND!!! will continue to grow exponentially as Social Security, Medicare, Medicaid, the Postal Service, FDIC, PBGC, and innumerable Federal spending programs are all bankrupt, and must either default or have their debts counterfeited away.
Which choice do you supposed Congress, the Treasury, and the Fed will choose? [Read more...]