The Phaserl


Treasury: We’ve Kept Debt Exactly $16,699,396,000,000 For 4 Months

by Terence P. Jeffrey, CNS News:

At 4:00 p.m. on Wednesday, the U.S. Treasury released its daily statement revealing how the accounts of the federal government stood as of the close of business on Tuesday, Sept. 17.

According to this official accounting, the federal government’s debt that is subject to a legal limit set by Congress stood at exactly $16,699,396,000,000 at that hour yesterday.

That marked the fourth straight month that the U.S. government’s debt has ended up at exactly $16,699,396,000,000 at the close of each business day.

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3 comments to Treasury: We’ve Kept Debt Exactly $16,699,396,000,000 For 4 Months

  • rich

    Going Postal
    The husband of US Senator Dianne Feinstein has been selling post offices to his friends, cheap.

    The Berkeley crowd is not acting alone: From the beaches of Santa Monica to the avenues of the Bronx to the orange farms of Nalcrest, Florida, people who like the US Mail are getting mad. “Hey, wait a minute, Mr. Postman! That is our community post office — ”

    To which the federal flak-catchers reply: “The Internet is killing us. The Postal Service is broke. We have to sell. Get used to it.”

    But email is not the problem and the budget deficit is easy enough to fix, so there must be other reasons for the forced sales, say save-the-post-office activists. The post office is being killed for political reasons, they assert, pointing out that the corporation with the exclusive contract to negotiate sales for the Postal Service’s $85 billion real estate portfolio is C.B. Richard Ellis (CBRE). And that the company is chaired by Richard C. Blum, who is the husband of US Senator Dianne Feinstein and a member of the University of California Board of Regents. CBRE’s connection to a politically powerful family with a history of accessing public pension funds to make private investments has caused more than a few activists to suspect wrongdoing — even though no evidence of any conflicts of interest tied to the CBRE contract have been revealed.

    Until now.

    My yearlong investigation has uncovered evidence of multiple conflicts of interest and problems with post office sales supervised by Blum’s company, including:

    • CBRE appears to have repeatedly violated its contractual duty to sell postal properties at or above fair market values.

    • CBRE has sold valuable postal properties to developers at prices that appear to have been steeply discounted from fair market values, resulting in the loss of tens of millions of dollars in public revenue.

    • In a series of apparently non-arm’s-length transactions, CBRE negotiated the sale of postal properties all around the country to its own clients and business partners, including to one of its corporate owners, Goldman Sachs Group.

    • CBRE has been paid commissions as high as 6 percent by the Postal Service for representing both the seller and the buyer in many of the negotiations, thereby raising serious questions as to whether CBRE was doing its best to obtain the highest price possible for the Postal Service.

    • Senator Feinstein has lobbied the Postmaster General on behalf of a redevelopment project in which her husband’s company was involved.

    The Backstory

  • Eric

    Yea gee I wonder how. Feel bad for my mailman.

  • Hoser

    Yeah, because you stold funds directly from the Government Pension Funds.

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