September 27, 2016
HAMILTONIAN, NOT JEFFERSONIAN:
The Fed is under attack, but still massively profitable for taxpayers (Chris Isidore, 9/27/16, CNNMoney)
Last year the Fed poured a record $117 billion back into U.S. coffers, a record high. That money gets spent on everything from highway construction to the military and food stamps.In the last decade, its payments to Treasury have totaled nearly $700 billion. Since the bank's operating expenses are only about $4 billion a year, it's an incredibly profitable business.
Posted by Orrin Judd at September 27, 2016 3:20 PM