Found Money

This sounds like good news from the Federal Reserve: the government will realize $31 billion of money that had not previously been expected this year. While the path to governmental solvency necessarily goes through the difficult territory of entitlement cuts, extra revenue is a nice contribution towards deficit reduction. Our overall path cannot change because we cannot rely on this sort of thing to be repeated in the future.

It is also encouraging news because it suggests that banks are doing better, which in turn means that individual borrowers are doing better paying on their loans. It is also good news because it demonstrates that contrary to the popular myth, the Federal Reserve does not funnel money generated in heroin sales for the Lizard People and the Queen of England.

Burt Likko

Pseudonymous Portlander. Homebrewer. Atheist. Recovering litigator. Recovering Republican. Recovering Catholic. Recovering divorcé. Recovering Former Editor-in-Chief of Ordinary Times. House Likko's Words: Scite Verum. Colite Iusticia. Vivere Con Gaudium.