How Broke are We??? Try 9 Trillion.

I wonder once we default, send the world into a depression or both which states China will decide to annex? California? So then movies will say made in China. I support tax increases and program cutting when used for the right reasons and after being thoroughly examined with other alternatives. America is ____________. (Insert word you feel is appropriate) At minimum bankrupt. Nine trillion dollars needs to be paid. The best situation we could hope for would be an exponential increase in job creation. But, we all know that will not happen.
Jobs are still being move to other countries and those that more people have to chose from are low paying part time with no hope for the future. I feel that it is time to say that capitalism is now in the category of socialism and communism. There is the ideal of what the creator was thinking when the idea was originally conceptualized and what reality demonstrates. True capitalism is never going to happen and we have been shown what we have is an illusion.
I remember the politicians saying that deficit spending was a good thing and not to worry. I think that was the Reagan administration. Anyone who still believes that one is an delusional idiot who's myopic view is leading the US to its demise. I would rather live in a creditor nation than a debtor nation. The money we are hemorrhaging in interest to other countries could be spent on making America better. Mark my words, America is heading for a very dark time.


http://detnews.com/article/20090822/POLITICS03/908220345/1020/$9T-federal-deficit-forecast

$9T federal deficit forecast

Jim Kuhnhenn / Associated Press

Washington -- The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-19 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

Ten-year forecasts are volatile figures subject to change over time. But the higher number will likely create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt.

Earlier this week, the White House revealed that it expects a budget deficit for the fiscal year ending Sept. 30 to be nearly $1.6 trillion.

That figure was lower than initially projected because the White House scratched out $250 billion that it had initially added to the budget as a bank rescue contingency. The administration ultimately did not ask Congress for that money.

Still that number, together with the 10-year projection, represents a huge obstacle for an administration trying to undertake massive policy overhauls in health care and the environment.

Economists predict a slow recovery from the recession, further testing Obama's goal of cutting the deficit to $512 billion in 2013. Even as he seeks higher revenues to pay for new climate change and health care measures, the president could face pressure to increase revenues or make deep spending cuts to tame the deficit.

Earlier long-term estimates released in February and May relied on now-outdated projections of economic growth.

Views: 34

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by I811st on August 23, 2009 at 4:35am
we , or was it just me ? bought the products.
but at a 5000.00% retail mark-up.
Those SOB,POS's Owe me.
Comment by Marklar on August 22, 2009 at 1:39pm
We? I never borrowed a dime from China. Let those who did pay it. Just round up all the politicians and bankers and send them to China to work off THEIR debt in a Chinese prison camp. Problem solved.

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis favorited Doc Vega's blog post One of Many Witnesses to the JFK Assassination Not Listed in the Warren Report
6 hours ago
Doc Vega posted a blog post

One of Many Witnesses to the JFK Assassination Not Listed in the Warren Report

In an interview by Attorney Mark Lane James Leon Simmons, a railroad worker, who like many…See More
10 hours ago
Burbia commented on KLC's group MUSICWARS
yesterday
Doc Vega posted a blog post

The Unnerving Frequency of Disappearances on the Appalachian Trail Pt. 1

There’s another one of the cluster zones of missing persons reports that fails to render the…See More
yesterday
cheeki kea commented on cheeki kea's photo
Thumbnail

Waste runs deep

"Make USAID - go away."
yesterday
cheeki kea posted a photo
yesterday
cheeki kea commented on cheeki kea's photo
Thumbnail

$ Paid Annual Leave $

"Now is the Time for American Workers to Unite! Take back the squandered taxes and demand time off…"
Monday
cheeki kea posted a photo
Monday
Burbia commented on Burbia's blog post Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.
Monday
Burbia posted a blog post

Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.

I guess releasing this bio-weapon upon Israeli neighbors would be hitting too close to home. I…See More
Monday
tjdavis posted videos
Monday
tjdavis posted a video

The Electric State | Final Trailer | Netflix

Together, robots & humans can take the whole system down. THE ELECTRIC STATE starring Millie Bobby Brown, Chris Pratt and directed by the Russo Brothers, onl...
Sunday
Less Prone favorited Sandy's video
Saturday
Doc Vega's 7 blog posts were featured
Saturday
tjdavis's blog post was featured
Saturday
Sandy posted a video

"Mommy Tells Me I'm a Girl"-Jeff Younger

Soft White Underbelly interview and portrait of Jeff Younger, a father who is fighting to protect his son from transitioning into a girl. Get 40% off access ...
Saturday
tjdavis posted a video

MindWar: Full Spectrum Cognitive Dominance [Michael Aquino Analysis]

This is my analysis and my thoughts on Michael Aquino's "MindWar". This document is a must-read if you are looking to understand the psyop tactics and cognit...
Mar 28
Doc Vega posted a blog post

A Horrid Murder at Land Between the Lakes (Sasquatch?)

 Most of us hear that Sasquatch-Bigfoot are intelligent yet reclusive creatures that are closely…See More
Mar 28
Doc Vega posted blog posts
Mar 27
cheeki kea commented on cheeki kea's video
Thumbnail

Metropolis (1927) Full Movie | 4K Color Remastered: 2023 Colorized with Gottfried Huppertz Score

"Hey thanks for the thumbs up guys. I was blown away (like a leaf in a tornado) when I watched this…"
Mar 27

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted