Fannie, Freddie Threaten Taxpayers Again - Investors.com

Fannie, Freddie Threaten Taxpayers Again - Investors.com

The financial threat is substantial. The Congressional Budget Office forecasts our national debt will surge from about $14.8 trillion now to $23 trillion by 2021.

That may be an understatement. Fannie and Freddie, now wards of the state, have an estimated $7.5 trillion in debts. These are carefully kept off the government's books — though, as we've seen, because of "too big to fail," U.S. taxpayers are on the hook for their mistakes.

So instead of $23 trillion you may be shelling out $30 trillion — or more. Remember, the GSEs have already racked up nearly $250 billion in losses, and private estimates say the toll could reach $1 trillion.

These aren't on the books. Go Dems Go!