To try to prevent the Fed’s balance sheet from going up another $1.9 trillion immediately to $9.5 trillion, the US Treasury has…
by Jason Burack of Wall St For Main St
President Joe Biden just signed the $1,9 trillion spending bill after different versions passed both houses of CONgress.
Biden, Dems prevail as Senate OKs $1.9T virus relief bill apnews.com/article/joe-biden-…
However, everyday Americans, if they even qualify to get a $1,400 check at all will not even get 25% total of the $1.9 trillion!
To try to prevent the Fed’s balance sheet from going up another $1.9 trillion immediately to $9.5 trillion, the US Treasury has begun massive draw downs of the US Treasury General Account of hundreds of billions of dollars with $110 billion in just the last few weeks.
However, with the currency size of the US federal government budget deficits the size of the US Treasury General Account is nowhere near enough to subsidize the full annual budget deficits that are now here plus any additional spending programs from CONgress and/or the White House.
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