13 Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT
ATTENTION IDIOTS IN THE MAINSTREAM MEDIA - Stop The Budget Lies - There Are NO Cuts - House Passes Bill To INCREASE Spending By $7 Trillion Over The Next 10 Years
Lies, Damn Lies And Government Budgets
1) Corporate journalists and financial pundits know NOTHING about budgets.
2) The Boehner led House passed legislation this evening that INCREASES spending by $7 TRILLION over the next ten years versus a baseline budget that would have increased spending by $9.5 TRILLION over the same period.
3) CBO said today that LESS than 2% of the decrease in the GROWTH of spending will come before the 2012 elections. The remainder come after the election.
4) Defense and war machine spending will grow at 3% per year instead of 4% per year.
5) This was nothing but an agreement to agree at a later date to look for reductions in planned spending GROWTH.
6) A Super Congress will decide on a mix of tax increases and reductions in planned spending growth to meet the targets at a later date.
7) No one in Congress even considered Ron Paul's simple plan, now endorsed by Time Magazine as well as liberal economist Dean Baker, to wipe out $1.6 trillion in fake debt owned by the Federal Reserve. Debt that we owe to ourselves, that is entirely legal to wipe away.
8) CBO says under this plan, the national debt will INCREASE from $14.4 TRILLION currently to more than $25 TRILLION over the next 10 years.
9) The assumption for #8 above assumes the economy grows at 3% per year over the next 10 years, and that Treasury interest rates stay at historic lows. When rates increase, and bet your life that they will, interest on the debt will increase and so will annual deficits, leading to a national debt much higher than the $25 TRILLION that CBO estimates.
10) Regarding Treasury rates and interest on the debt, get educated about a concept called 'DURATION RISK.' Turbo Geithner and his MENSA bed-fellows at Treasury have chosen to finance the great majority of recent and future borrowing in short-term bills, which means that they have to be rolled over frequently. This is perhaps the least-discussed and most dangerous issue related to Treasury debt.
12) The bill passed by Boehner tonight was the BEST they could do after 6 weeks of fighting.
13) Due to #12, the United States is officially fucked.
Thank you and good night.
Aug 5, 2011 at 11:21 AM
Reader Comments (31)
http://www.defensenews.com/story.php?i=7263762&c=AME&s=TOP
http://www.wnd.com/index.php?fa=PAGE.view&pageId=327389#ixzz1TpyrqMzF
http://dailybail.com/home/ron-paul-dylan-ratigan-cancelling-debt-held-by-the-fed.html
There's a lady who's sure all that glitters is gold
And she's buying the stairway to heaven.
When she gets there she knows, if the stores are all closed
With a word she can get what she came for.
Ooh, ooh, and she's buying the stairway to heaven.
WITH GREAT APOLOGIES TO LED ZEPPELIN
“In 2011 Dennis Blair, previous director of national intelligence, mentioned that 17 Americans have been killed on U.S. soil by terrorists in the 10 years since 9/11 — 14 of them in the Ft. Hood massacre. Meanwhile, auto accidents, murders and rapes combined have killed an estimated 1.5 million people in the past decade. “What is it that justifies this amount of money on this narrow problem?” WHAT ABOUT THE LIVES OF THE 1.5 MILLION? WHAT IS THE TSA DOING ABOUT THAT?
The only thing Bush proved by invading Iraq was that Sadam was a great leader. Just look at the place then, and compare it to now. Bush and his cronies will go the warmonger way of Hitler and his henchmen. Think of how great the USA and the world would be today if the US never had a military of any kind. All that money could have been used to build a Utopian society. Is the USA run by a secret satanic society? The level of stupidity of the USA leaders over the last nearly 100 years is so incomprehensible, I cannot think of any other explanation for the blatant and widespread insanity. Where does the USA go in the next 20 to 50 years? There is only one course, and it has been played out a thousand times in recorded history. The 50 states will divide up to become separate countries, or groups of states will join together where it is in their benefit. The federal government with their warmongering ways, and all their debt, will go the way of the Romans and their debt. Two long articles are posted on the site: facebook.com/garydonoliver
Two long articles are posted on the site: facebook.com/garydonoliver
Facebook? Are you kidding me? Its the american people that are idiotic and naive. Why would anyone use Facebook, an Israeli run data mining company, who is now suggesting that there be no more anonymity on the web. They are plenty of file hosting services besides Facebook.
Good night and good luck.
http://newyork.cbslocal.com/2011/07/31/stringer-news-service-cameraman-arrested-while-filming-scene-in-bohemia/
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Pelosi and Boehner are waiting to plant a big fat wet one on everyone's rear.
http://imgur.com/jFoNr
I hope you like higher taxes.
Much higher taxes.
http://market-ticker.org/akcs-www?post=191135
The Onion on the debt deal.
http://www.dailykos.com/story/2011/08/01/1001765/-Wisconsin-recall:-Conservatives-sending-Dems-absentee-ballots-with-instructions-to-return-them-late
http://www.rawstory.com/rs/2011/08/01/soaring-demand-spotlights-secret-ny-gold-hoard/
Global economy is cooling rapidly
Commentary: U.S., Europe and China all report weakness in factories
http://www.marketwatch.com/story/global-economy-is-cooling-rapidly-2011-08-01
Even the Tooth Fairy Knows It's a Depression
http://www.dollarvigilante.com/blog/2011/7/29/even-the-tooth-fairy-knows-its-a-depression.html
Our Collpase is Assured........
http://www.youtube.com/watch?v=_xfZ_9PJTFs
On another note LOL I live in WI and think that's funny as hell about the ballots and did you hear the Dem's Recall headquarters burned down...
Fire Destroys We Are Wisconsin PAC Offices in La Crosse
http://foxpoint.patch.com/articles/fire-destroys-offices-of-group-active-in-wisconsin-recall-effort
Things are getting better with Walker in charge
Walker: Wisconsin added 9,500 jobs last month
Gov. Scott Walker says the state added 9,500 jobs last month, accounting for more than half the jobs created nationwide in that period.
http://www.businessweek.com/ap/financialnews/D9OK6CRO1.htm
http://globalrumblings.blogspot.com/2011/08/what-hell-are-un-bux.html
http://www.youtube.com/watch?feature=player_embedded&v=Dlf4gOvzxYc
But pleeeze - replace the inaccurate "mainstream" media and "mainstream" journalists with the correct and accurate "Corporate" media and "Corporate" journalists.
The "mainstream" is the Internet, upon which your article is posted ("corporate" media is sliding downhill fast due to their lies and deception)
The SOLUTION is austerity and more, and it will be brutal and quite possibly deadly for many senior folks. Need an operation and you don't have insurance....too bad. Better hit the relatives up for the cash otherwise you'll die. The forced eugenics program and associated violence (cause there will be pissed off people) will surely reduce our population by more than 25% within a decade or so.
And to be honest, the "haves" won't have much trouble ignoring the despair (and death) of the "have nots". I'll bet my left nut on those predictions.
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:
"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise."
We will never be allowed out of receivership.
972.444.0203.
I done demonstrated before, and we finally won. Not without peril and lumps. And we stayed legal. They trashed store fronts. They tried to start riots. They injured and murdered people. They were wrong. We could have killed everyone of them. We did not attack a single one. They took advantage. They wanted trouble. We wanted peace.
Get a clue folks. They're not going to tell you that the ship is sinking, and as a result, millions of Americans will go hungry on a regular basis in the not-too-distant future, which is a nice way of saying that people will starve to death.
It's over.
Prepare now (if you can) otherwise you will be a casualty.
Bad money does not make good money. A saying older than the creation of it and it stands true today. Take notes and vote. Continue to hope for the best for everyone who is in a struggle because of this overwhelming greed by the so very few.