Snapshot of Federal Reserve Website on April 19, 2011
What is the Federal Reserve? Its the central bank of the United States of America. What does the Federal Reserve do? It provides the United States of America with a safe, flexible, monetary and financial system. How does the Federal Reserve provide the nation with a safe, flexible, monetary and financial system? In a press release dated April 2011, the Federal Reserve proposed a rule under Regulation Z of the Dodd Frank Act that would require creditors to determine a consumer’s ability to repay a mortgage before making the loan and would establish minimum mortgage underwriting standards 
To paraphrase Patrick McEnroe, the Federal Reserve cannot be serious. I don’t know if President Obama deserved the Nobel Prize for Peace but the Federal Reserve definitely deserves a new Nobel Prize for Comedy. Can the Federal Reserve get more comical than this? It is insulting to the people of the United States that public comments are invited over this proposed rule.
Winston Churchill supposedly said about us that, “Americans always do the right thing – after they’ve tried everything else”. One can hope that Churchill is right.
National Debt Versus Federal Budget Deficit
The national debt is the total accumulated indebtedness of the U.S. government and this stands at 14 trillion. The federal budget deficit, the difference between what the government spends in a given year and what it takes in stands at 1.5 trillion. At that level, for every $1 the government spends, it must borrow 43 cents.
US National Debt
I am a Civil Engineer from Louisiana State University. The compound word, Americaneer, is a combination of the words, American and Engineer.