IT'S OFFICIAL: Deficit Obama Signs Law To Raise Public Debt Limit To $14.3 Trillion
Democrats in control of Congress, including then-Sen. Obama (Ill.), blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.
"Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership.”
-- Senator Barack Obama in 2006
Obama later joined his Democratic colleagues in voting en bloc against raising the debt increase.
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Behind closed doors and with no cameras present, President Obama signed into law Friday afternoon the bill raising the public debt limit from $12.394 trillion to $14.294 trillion.
The current national debt is $12.3 trillion. Check out the National Debt Clock, which tells you your share of that -- roughly $40,000 per citizen, $113,000 per taxpayer.
The bill also establishes a statutory Pay-As-You-Go procedure requiring that new non-emergency legislation affecting tax revenue or mandatory spending not increase the Federal deficit – in other words, that any new spending or tax cuts be paid for with new taxes or spending cuts.
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Video: Obama tells C-Span the government is flat broke.
Feb 14, 2010 at 12:15 AM
Reader Comments (33)
http://dailybail.com/home/deficit-obama-says-we-cant-continue-to-treat-tax-dollars-lik.html
http://dailybail.com/home/our-democracy-has-become-a-debtocracy-congress-approves-19-t.html
Obama says new budget rules will rein in spending
http://freedom-school.com/aware/your-straw-man-is-an-artificial-person.html
It is interesting that years ago the real person was legislated into the artificial person, and now the Sublime court has granted the real artificial person (corporations), real person status.
Ya gotta love the United State of America Corporation.
Woe to them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!
Isaiah 5:20
http://www.youtube.com/watch?v=wOKK8mAkiUI
US debt will soon be unsustainable without higher taxes and spending cuts, even with recovery
http://finance.yahoo.com/news/US-debt-will-keep-growing-apf-219502322.html?x=0&sec=topStories&pos=main&asset=&ccode=
How much damage must these financial terrorist do before they are being held accountable for their wrongdoings?
Greece was an act of financial terrorism.
http://www.nytimes.com/2010/02/14/business/global/14debt.html
Even in the US they trapped local municipalities into complex bond derivatives and now they suffocate under the load of debt.
http://www.youtube.com/watch?v=CP9v3eroVco
Dont these co´s have a moral obligation?
If I had an account, I would simply close it. If I had a business-relation I would cease dealing with all of them.
How Goldman secretly bet on the U.S. housing crash
http://www.mcclatchydc.com/100/story/77791.html
If the Dark Side can break Greece, using Germany, propaganda and the rating agencies as the tools, it will be open season on six of the weakest countries debt next. More depends of the resolution of the Greek situation than Greece and the euro.
This has to be payback time, simply as voyageurs, when a popular US personality broke Asian debt in much the same way.
Weak and strong is defined as debt versus GDP as a percentage. Then comes the dollar because of its outrageous (for a major currency) debt to GDP as a percentage position.
Save Greece, and the West advances at warp speed towards a form of Western world Weimar. We are damned if we do, and immediately damned if we do not.
BlackRock may be betting on the spread of "Extend and Pretend" regarding Greece. This is the most shocking time in the history of fiat currency. This is the ending phase of the floating exchange system as we know it, and all of it was arranged by the Dark Side for profit.
The sheeple sleep on.
One deficit record after another is being set on a regular basis in the U.S. The debt load now stands at about $12 trillion. With the recently passed debt ceiling, it will be at least $14.3 trillion by the end of the year. (There are also more than $6.2 trillion in liabilities with failed mortgage giants Fannie and Freddie that are not accounted for in the U.S. budget) America’s total debt and unfunded liabilities are in the neighborhood of $63 trillion. Many experts say America will address this huge debt problem by printing money. This will continue to devalue the dollar which is the world’s reserve currency. This could cause inflation and calamity on a global scale.
The news gets worse because just about every other industrialized country in the world is facing record deficits and liabilities. Those countries will also print money to pay off debt.
According to Yale Economics Professor Robert Shiller, we had the biggest housing boom in history in the first part of the new century. It was a first time global phenomenon. Now, the U.S. and much of the rest of the industrialized world are working through the biggest housingmeltdown in history, and it’s not yet at the bottom.
Commercial real estate is also in the process of a record setting meltdown.
Public pensions in the U.S. are a record $2 trillion in the red.
Nearly every state in the U.S. is facing record budget shortfalls.
Sovereign debt is being called into question with talk of national defaults on a scale unheard of before. Just this week, economist Dr. Mark Faber said, “…I am not interested in government or sovereign debt because all governments will eventually default, including the U.S.” Faber thinks governments will default, in part, by printing money to pay for their liabilities and debt.
http://www.youtube.com/watch?v=ySfEZlpN2OE&feature=player_embedded#
this Hitler Clip has become best weapon ..............
http://www.youtube.com/watch?v=ahNfvFQFnKg&feature=player_embedded
Must Watch Video America
Forget Credit Score scam............No Need............That si the Weapon to make all DEBT SLAVES by Banker Terrorists
First Premier Bank 79.9% interest rate!
NEW YORK — It's no mistake. This credit card's interest rate is 79.9 percent.
The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It's a strategy other subprime card issuers could start adopting to get around the new rules.
http://www.huffingtonpost.com/2009/12/17/799-percent-interest-cred_n_396191.html
Typically, the First Premier card comes with a minimum of $256 in fees in the first year for a credit line of $250. Starting in February, however, a new law will cap such fees at 25 percent of a card's credit line.
Bloomberg News Files 'Extraordinary Lawsuit' To Crack Fed Secrecy Around Bank Bailout
http://www.nytimes.com/2010/02/14/nyregion/14fed.html?partner=rss&emc=rss
http://www.youtube.com/watch?v=Pb_Epv7BCV8&feature=related
How I Woke Up...to the New World Order
http://www.youtube.com/watch?v=mdDVp3eiOwI&feature=related
Running Out Of Money & They Are Watching Us
http://www.youtube.com/watch?v=gNoEsfrhpeI&feature=related
You Got One Minute To Tell Me The Truth
http://www.youtube.com/watch?v=o2HmMxWUZZw&feature=related
http://www.bignews.biz/?id=800509&keys=Rothschild-Goldman-Morgan-economy
Obama is a Puppet to Corporate America - Says One Thing, Does Another - Hypocrisy 101
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By MikeNV
Actions Overshadow his Words
Listen carefully to what I say, just don't pay attention to what I do.
Listen carefully to what I say, just don't pay attention to what I do.
Do as I Say ... Not as I do
Actions speak louder than words. You are probably familiar with this very old cliché. Obama talks the talk but does not walk the walk. Obama takes an action of support for the Banking Industry then later tells people how bad they are. It’s like a drug addict shooting up, then condemning drugs. The term is best known as Hypocrisy. It is fact the appointees of Team Obama pushed through all the Bailout Money… and continues to do so. So what’s with the criticism from Obama? Spin, spin, spin goes the Obama PR machine.
Big Headline: Obama Blasts Banks for Opposing Financial Overhaul
While applauding House passage Friday of overhaul legislation and urging quick Senate action, Obama expressed frustration with banks that were helped by a taxpayer bailout and now are "fighting tooth and nail with their lobbyists" against new government controls.
http://hubpages.com/hub/Obama-is-a-Puppet-to-Corporate-America-Says-One-Thing-Does-Another-Hypocrisy-101
Be careful, Tea Party Nation. You are being infiltrated. You are being compromised. You are being neutered. Stick to your principles. Stick with the Constitution. Keep opposing unconstitutional, preemptive wars. Keep calling for the abolition of the Federal Reserve. Keep fighting for less taxes, reduced federal spending, and states' rights. Keep opposing the Patriot Act and the New World Order. Don't abandon Ron Paul. Be wary of people such as Sarah Palin and Glenn Beck. You don't need "big name" celebrities to give you credibility. As Samson's strength depended on keeping his hair uncut, your strength lies in keeping your principles intact. And unless you want to wind up like the Republican freshmen in 1994, avoid Newt Gingrich like the plague!
http://www.newswithviews.com/baldwin/baldwin569.htm
The ONLY thing that would polarize Americans to take action would be to cut-off their supply of Ding-Dongs and Yo-Ho's, and if you REALLY want to piss them off; take-away their access to McMeals and Mcmilkshakes.
In 24 hours we'd have a new government GUARANTEED.
Posted on Whitehouse.gov
Insane Meat Puppet President of Wall street Criminal Bankers:
What weed are you smoking now?
Here is What you did to USA republic now:
It Is Now Mathematically Impossible To Pay Off The U.S. National Debt
http://theeconomiccollapseblog.com/archives/it-is-now-mathematically-impossible-to-pay-off-the-u-s-national-debt
#1) If all money owned by all American banks, businesses and individuals was gathered up today and sent to the U.S. government, there would not be enough to pay off the U.S. national debt.
#2) The only way to create more money is to go into even more debt which makes the problem even worse.
Zombie Nation – The Rise of the Mathematical Plague…
Access to $23.7 Trillion!? Oh my. That’s $77,198 per person in the United States! For my family of four that’s $308,792. Now, I don’t know about you, but I don’t really have that type of money just floating around in a drawer and I don’t really appreciate Uncle Sam using my money, or my future earnings, or my children’s future earnings to backstop the people doing High Frequency Trading, paying their bonuses, or using my money to artificially inflate the price of oil! No, I don’t believe the nation would have failed had we let the big banks go!...
http://economicedge.blogspot.com/2010/02/zombie-nation-rise-of-mathematical.html
*SECESSION* !!!!!
We could do a EU-type thing wherein every state is tied to the rest in SOME important way (financially, culturally, politically or other) but NOT COMPLETELY & INEXTRICABLY LOCKED INTO a central federalist government like we are now. It just makes SENSE.
Think of the US federal government as a bad shop keeper; if you have the option of LEAVING the store in order to go to ANOTHER shop across the street where the service is much better, you can BET that that shop keeper will get his/her shit together QUICKLY. OR disappear altogether. Either way, who gives a shit, right?
THAT'S exactly what's EXPECTED to happen to INCOMPETENT PEOPLE and ORGANIZATIONS ANYWAY.
Wanna hear 'funny'? How about this? That computer program seems to make a lot MORE SENSE than you -the ALLEGED human being- are making. Which leads me to doubt if YOU'RE not just some evil spirit ..haunting the internet.
Hmmmm.
ROARING SALUTE BROTHER
Machine Roars
STATES VS FEDERAL CRIMINAL RULERS FIST FIGHT
TRAILOR: GREECE VS EU?LOL
Greece loses EU voting power in blow to sovereignty
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7252288/Greece-loses-EU-voting-power-in-blow-to-sovereignty.html
Watch High Drama unfolds in USA Republic next...LOL
Americans won't be rushing to put out the blaze the next time Wall Street burns
One year on from the near collapse of the financial system, Tom Leonard in New York finds it's ordinary Americans who are picking up the bill.
This Bitch Defending Criminal Terrorists (Video)
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6201993/Americans-wont-be-rushing-to-put-out-the-blaze-the-next-time-Wall-Street-burns.html
http://www.cbsnews.com/blogs/2010/02/17/politics/politicalhotsheet/entry6217403.shtml
South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.
In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."
"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."