Monday Afternoon Reading (U.S.S. National Debt Photo)

The U.S.S. National Debt appears to be sinking.

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Our 15,000 RSS readers and daily email recipients will have to visit the site to see today's links.  To save time, I am placing all the links in comments below. 

They are in no particular order.  I've placed 34 links so far.  Taking a break to publish a few stories.  Will continue adding links later.

Comments

[DailyBail]

New Prime Minister David Cameron said Monday the state of Britain's finances was "even worse than we thought" as he warned of "painful" and unavoidable cuts to tackle the record deficit.

Cameron lambasted the Labour administrations of premiers Tony Blair and Gordon Brown, saying their "total irresponsibility" had left a "terrible" legacy that meant everyone's lives would be affected by the cutbacks.

In a speech laying out the scale of Britain's "debt crisis", Cameron said if urgent action was not taken, the consequences would be much worse as interest payments stacked up.

"Today, our national debt stands at 770 billion pounds," Cameron told an audience in Milton Keynes.

"Within just five years it is set to nearly double, to 1.4 trillion pounds. That is some 22,000 pounds for every man, woman and child in the country."

The Conservative leader said if no action was taken, Britain would be paying a "staggering" 70 billion pounds a year interest on its debt by 2015.

http://www.breitbart.com/article.php?id=CNG.c44390c50c9adb01cd1b30e8494bfbf2.5d1&show_article=1

[DailyBail]

MADRID, June 7 (Reuters) - Spain's public sector strike against a government austerity plan on Tuesday will allow the country's unemployed to vent their frustration but the real test will come in response to labour reform to be unveiled this week. Tuesday's work stoppage and planned marches, called after the government rammed through a plan to shave 15 billion euros ($17.91 billion) off the budget with public sector cuts, is a shot across the government's bows before unions receive its draft of much-awaited labour reform on Wednesday.

Public sector workers face average wage cuts of 5 percent for this year and a freeze for 2011 as part of a plan to cut the budget deficit to 9.3 percent of gross domestic product this year, from 11.2 percent in 2009, and then to 6 percent in 2011.

"Tuesday's action is without a doubt a marketing exercise to gauge the support for a possible general strike," said University of Navarra political communications professor Carlos Barrera.

http://www.alertnet.org/thenews/newsdesk/LDE65407Z.htm

[DailyBail]

Election spooks lawmakers, curbs Congress spending

http://apnews.myway.com/article/20100607/D9G6D6NO0.html

[DailyBail]

I Pledge Allegiance To Americaʼs Debt, And To The Chinese Government That Lends Us Money

http://dailybail.com/home/i-pledge-allegiance-to-americas-debt-and-to-the-chinese-gove.html

[DailyBail]

BP struggling to process cap-collected mix of oil , seawater

http://www.marketwatch.com/story/bp-eyes-containment-shortfall-on-gulf-well-report-2010-06-07

[DailyBail]

Gulf oil spill breakthrough? Cap collecting 'majority' of oil.

BP reported Sunday that its containment cap is now collecting 420,000 gallons a day, saying that was a 'majority' of the oil. But the flow rate in the Gulf oil spill is still uncertain, and BP has failed to live up to its optimistic predictions in the past.

http://www.csmonitor.com/USA/2010/0606/Gulf-oil-spill-breakthrough-Cap-collecting-majority-of-oil

[DailyBail]

http://www.nytimes.com/2010/06/07/us/politics/07townhall.html?hp

Democrats Skip Town Halls to Avoid Voter Rage

[DailyBail]

Rep. Brad Sherman (D-Calif.) -- one of Israel's staunchest defenders in Congress -- wants Americans who were aboard the Gaza flotilla ships prosecuted.

On a conference call organized by the Israel Project on Friday, Sherman said that any U.S. citizen aboard the ship should be considered aiding Hamas, an Islamic extremist organization that controls Gaza. The U.S. State Department considers Hamas a foreign terrorist organization.

http://thehill.com/blogs/blog-briefing-room/news/101633-congressman-wants-americans-on-gaza-flotilla-prosecuted

[DailyBail]

Long List of Liberal Eruptions from Media's Mount St. Helen

http://newsbusters.org/blogs/rich-noyes/2010/06/06/long-list-liberal-eruptions-medias-mount-st-helen#ixzz0qBPkW45q

[DailyBail]

http://newsbusters.org/blogs/tim-graham/2010/06/06/msnbcs-dylan-ratigan-guest-hosted-leftist-young-turks-radio-show

Dylan Ratigan on the illegal wars...

[DailyBail]

LAPD officers surrounded a downtown L.A. hotel and took into custody an elusive suspect that police have likened to Jason Bourne, the fictional secret agent known for his daring getaways and high-tech gadgetry in a series of films played by Matt Damon.

Police have been looking for Brian Alexik for nearly two months, ever since they allegedly found weapons and counterfeit cash inside his loft, which is located right outside the Federal Reserve building in downtown L.A.

LAPD sources told The Times that police surrounded a hotel off Hewitt Street near Little Tokyo and eventually detained Alexik as well as a girlfriend. He is now being questioned.

http://latimesblogs.latimes.com/lanow/2010/06/jason-bourne-suspect-arrested-in-downtown-la-hotel-after-lapd-standoff.html?source=patrick.net

[DailyBail]

Student Debt and a Push for Fairness

But if you borrow money to get an education and can’t afford the loan payments after a few years of underemployment, that’s another matter entirely. It’s nearly impossible to get rid of the debt in bankruptcy court, even if it’s a private loan from for-profit lenders like Citibank or the student loan specialist Sallie Mae.

http://www.nytimes.com/2010/06/05/your-money/student-loans/05money.html?source=patrick.net

[DailyBail]

Why Banks Try to Make Borrowers Feel Like Sinners When They Can't Pay off Their Mortgages

Crazy views about homeownership are helping the very bankers who screwed us in the first place.

http://www.alternet.org/story/147106/why_banks_try_to_make_borrowers_feel_like_sinnerx_when_they_can%27t_pay_off_their_mortgages?source=patrick.net

[DailyBail]

The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

http://www.cnbc.com/id/37531998

Reuters article at cnbc

[DailyBail]

Morici: Time Is Running Out for President Obama

Either Barak Obama fixes what’s broken in the economy, or he will be remembered for spending his entire first term blaming George Bush.

Last week’s jobs report was terrible for the eleventh month of a recovery. With nearly $800 billion in stimulus spending at its point of maximum impact, federal employment—net of temporary census jobs—was up a mere one thousand in May.

http://www.cnbc.com/id/37551377

[DailyBail]

Our Questions For Paul Krugman, Brad DeLong, Niall Ferguson, And The Tea Party

http://www.businessinsider.com/my-question-for-paul-krugman-and-brad-delong-2010-6

[DailyBail]

Geithner: Fannie and Freddie next for reform

http://thehill.com/blogs/blog-briefing-room/news/101367-geithner-fannie-and-freddie-to-be-addressed-once-wall-street-bill-done?source=patrick.net

[DailyBail]

White House Press Corps Member Helen Thomas: Zionists have vast Power in U.S. Politics [VIDEO]

http://intifada-palestine.com/2010/04/white-house-press-corps-member-helen-thomas-zionists-have-vast-power-in-u-s-politics-video/

[DailyBail]

Colorado Dem: I Was Not Promised a Job

http://www.breitbart.tv/co-dem-i-was-not-promised-a-job

[DailyBail]

http://www.breitbart.tv/barbara-boxer-fights-for-her-political-life-in-california

Barbara Boxer Fights For Her Political Life in California

VIDEO

[DailyBail]

http://drawfortruth.wordpress.com/category/obama/

Obama CARTOON page...

some of you (zara) will like this...a lot...

[DailyBail]

Federal Debt, Terrorism Considered Top Threats to U.S.

http://www.gallup.com/poll/139385/Federal-Debt-Terrorism-Considered-Top-Threats.aspx

Gallup POLL

[DailyBail]

http://blogs.reuters.com/felix-salmon/2010/06/04/delaying-basel-iii/

David Enrich and Damian Paletta have the latest news on the Basel III front, and the compromise seems to be coming into focus: not so much on the substance, which remains more or less intact, but rather on the timing, which could get pushed out as much as a decade.

Felix Salmon latest...

[DailyBail]

Bill Gates on Sparring Steve Jobs and the Imperfect iPad

http://gizmodo.com/5554583/

Video from his appearance on Larry King...

[DailyBail]

Greek Debtor Sets Himself On Fire Inside Athens Bank

http://www.businessinsider.com/greek-debtor-sets-himself-on-fire-in-athens-bank-2010-6

[DailyBail]

Global Bank Pact Advances

Regulators Discuss Bigger Cushion for Losses, but a Delayed Start to 'Basel' Rules

http://online.wsj.com/article/SB10001424052748703340904575284731793705288.html?mod=WSJ_newsreel_business

[DailyBail]

So just how big is the U.S. national debt in 2010? Well, according to the U.S. Treasury Department, on June 1st the U.S. National Debt was $13,050,826,460,886.97. For those not used to seeing such big numbers, that is over 13 trillion dollars. To give you an idea of just how much a trillion dollars is, if you had started spending one million dollars every single day when Christ was born, you still would not have spent one trillion dollars by now. And yet somehow the U.S. government has accumulated a debt of over 13 trillion dollars. This is a debt that we have callously placed on the backs of future generations of Americans. Somehow we have the gall to expect our progeny to pay off the biggest mountain of debt in the history of the world. What we have done to future generations is beyond sickening.

http://theeconomiccollapseblog.com/archives/u-s-national-debt-2010

[DailyBail]

50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

http://endoftheamericandream.com/archives/50-statistics-about-the-u-s-economy-that-are-almost-too-crazy-to-believe

[DailyBail]

Memorial Day Shocker: How The U.S. Government Really Handles Veterans Benefits – Deny, Deny, Deny Until They Die

http://endoftheamericandream.com/archives/memorial-day-shocker-how-the-u-s-government-really-handles-veterans-benefits-deny-deny-deny-until-they-die

[DailyBail]

Advances Come in War on Cancer

http://online.wsj.com/article/SB10001424052748704002104575291103764336126.html?mod=WSJ_newsreel_business

[DailyBail]

BP Captures More Oil as Spill Costs Reach $1.25 Billion

http://online.wsj.com/article/SB10001424052748703303904575292210472764880.html?mod=WSJ_newsreel_business

[DailyBail]

Big States Dilute Tea-Party Strength

Without More Cash and Organization, Movement May Be Unable to Repeat Small-Market Victories

http://online.wsj.com/article/SB10001424052748704726104575290861750294200.html?mod=WSJ_newsreel_us

[DailyBail]

Mortgage Delinquencies at FHA Show Slowdown

http://online.wsj.com/article/SB10001424052748704726104575290841574349032.html?mod=WSJ_newsreel_us

[DailyBail]

http://www.reuters.com/article/idUSN0719720120100607

June 7 (Reuters) - Countrywide Financial Corp, the mortgage lender that became synonymous with risky lending practices, has agreed to pay $108 million to settle government charges that two Countrywide mortgage servicing companies misled and overcharged consumers.

The Federal Trade Commission said Countrywide's mortgage services, which manage loan payments, had deceived homeowners into paying inflated fees, overcharging them by hundreds or thousands of dollars.

The agency called the $108 million one of the largest settlements in an FTC case.

"The record-keeping of Countrywide was abysmal," said FTC Chairman Jon Leibowitz. "Most frat houses have better record-keeping than Countrywide.

[S. Gompers]

"Federal Debt, Terrorism Considered Top Threats to U.S."

Federal debt/ foreign debt, is a form of terrorism.

[DailyBail]

you are right...doing a story on that now...

[DailyBail]

http://www.theonion.com/audio/us-to-offer-platinumplus-citizenship,17537/

U.S. To Offer Platinum-Plus Citizenship

Onion...comedy...

[DailyBail]

From Barack Obama's own words -

http://www.youtube.com/watch?v=X4EHmzslKLw

[JTS]

BP struggling to process cap-collected mix of oil , seawater I cant stop laughing i read this .And they used someone at
Goldman sachs to calculate how much it is going to cost .I have a slide rule with no numbers from when i was a kid
and could do better then them.LOL Mr obongo we have the BP figures looks like after the tax payers bail put
BP and we raise gas 2 dollars a gallon our bonus will come in just under 2 million each.

[RecoverylessRecovery]

Have Americans considered the possibility of STUFFING that oil leak with hundred dollar bills to stop the flow? I mean I know it's a STUPID IDEA, but then again trying stupid ideas is YOUR SPECIALTY, aren't they?

Plus, just think of how it'll make your GDP stats seem positive!

[DailyBail]

rlr...again...stop with constant flame-baiting insults...and remember that you are also an american...you always try to hide this fact...

[RecoverylessRecovery]

"...and remember that you are also an american...you always try to hide this fact... "

Because I'm ASHAMED of it.

[DailyBail]

here's the thing rlr...and this is only my opinion...but there's stupidity everywhere...the US has not cornered the market on 'dumb'...

[RecoverylessRecovery]

"here's the thing rlr...and this is only my opinion...but there's stupidity everywhere...the US has not cornered the market on 'dumb'... "

Well it's certainly seems to be working HARD towards cornering that market DB. I see very few other nations so intent on driving their economies into the ground like the U.S. does. Jim Rogers perhaps said it best when he described U.S. financial & political policies as being openly tilted towards rewarding the INCOMPETENT by TAKING from the COMPETENT. He also commented on the foolishness of taking-on new debt just to payoff old ones. What's happening in this country is TRULY Twilight Zone-worthy SHIT.

Like that TZ episode where this chick got plastic surgery because she was considered hideous, and then when the doctors and nurses unwrap her they all yell out in horror and turn their heads away after looking at her . The doctor sadly tells her the operation was a FAILURE. Thing is; that chick was actually a blued eyed blonde BEAUTY by current standards. As the camera slowly draws back from that final scene, you suddenly realize that you never really SAW the doctors and nurses faces before up to that moment. They always seemed to be somehow with their backs slightly turned or obscured thruout the whole episode. When you finally DO see them at the very end, it turns out THEY were the grotesquely deformed hideous ones all along, Yet in THAT bizarro world, virtues 7 values were somehow inexplicably REVERSED

....JUST like we have here in the U.S. today.