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red states rule
01-06-2009, 02:03 PM
Thank you Harry Reid and Nancy Pelosi.


WASHINGTON (AP) - The federal government's ledger has gone from a surplus just seven years ago to facing a prospect of a $1 trillion deficit next year.
Given those dire financial straits, President-elect Barack Obama said at a news conference Tuesday, "Budget reform is not an option. It's a necessity."

But unlike his predecessor President George W. Bush, who in better economic times talked about returning to surpluses by 2012, "balanced budgets" were not in Obama's vocabulary.

The government's first obligation, he said, was to spark an economic recovery and put people back to work. To do that, the Democratic-led Congress is expected to have a new stimulus package, costing in the $500 billion range, ready to go when Obama takes office in January.

That's on top of the hundreds of billions already spent or committed by Treasury and the Federal Reserve to revive the moribund financial markets. On Tuesday the government announced two new programs providing $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available.

All that, in the short term, will send the deficit into the stratosphere.

Budget hawks were stunned when the federal deficit hit a record $455 billion in fiscal 2008, which ended Sept. 30, more than double the previous year's deficit. But now, even the fiscally conservative say another doubling, to $1 trillion or more, may be inevitable if the economy is to be rescued.

http://www.breitbart.com/article.php?id=D94M4T580&show_article=1

emmett
01-06-2009, 03:40 PM
BANK OF THE AMERICAN TAXPAYER 06 JAN 2008
P O Box 1 thru 1 trillion # ooooooo1
Anywhere USA



Pay to the order of: The US Government 1,000,000,000,000.00



Now this is the last fucking time I am going to do this. Y'all handle this better this time!



Signed: Emmett

red states rule
01-06-2009, 03:41 PM
BANK OF THE AMERICAN TAXPAYER 06 JAN 2008
P O Box 1 thru 1 trillion # ooooooo1
Anywhere USA



Pay to the order of: The US Government 1,000,000,000,000.00



Now this is the last fucking time I am going to do this. Y'all handle this better this time!



Signed: Emmett


Please forward this demand to the offices of Harry Reid and Nancy Pelosi for payment

Thank You.

RSR

emmett
01-06-2009, 04:18 PM
It would come back "return to sender". The last thing the left needs is a solution. It would ruin their strategy to remain in power by using fear of the "wageearner". Watch out Liberals! People with jobs are going to take over the world!! Ahhhhhh!!!

Just wait until one day when people with over 10,000 in the bank have to forfeit the imbalance to the deficit in the interest of the common good. There will be no reason to have that much money when government provides everything you need. Your job will become valueless, government will set all standards, control all aspirations and lead us to a better unilateral understanding that we need not aspire to be better than anyone, everyone can have, it's just that some of us "less challanged" need to do a little more work than others to contribute to the "prosperity pool".

Soon after we solve this situation at home we will be able to infringe upon the rest of the world with our proven philosophy. That is why it was so important to elect a man with worldly appeal so it won't be such a tough sell.

red states rule
01-06-2009, 04:21 PM
Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: 'Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on.'


Economic recovery?

What the hell is that moron even talking about?

We are so screwed with this guy

Little-Acorn
01-06-2009, 04:22 PM
WASHINGTON (AP) - The federal government's ledger has gone from a surplus just seven years ago

In point of fact, the Fed govt hasn't run a surplus in at least the last 70 years. They've been spending Social Security contributions (and contribs for all the other "trust funds" the govt runs) on general expenses, leaving IOUs in the trust funds... and not counting the IOUs in the deficit for that year. The "accountants" of the Clinton administration used this fancy footwork to pretend they had "balanced the budget" for several years during his administration... but the National Debt went up as usual, in those years too.

It's been going on as long as anyone can remember. That's why, despite the talk about running surpluses in some years, the National Debt has been going up in EVERY year. Without exception.

The last time the national Debt actually went DOWN in a year, meaning the govt ran a genuine surplus, was during the Presidency of Herbert Hoover.

See http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm