Record U.S. Deficit: $490 Billion

While congress does pass laws. They are currently at the whim of the president to get those laws signed into law. IF the president chose to veto the law, then the congress would need a 2/3 approval to over ride it. In the mean time, while congress is doing that, u.s. government jobs aren't getting paid, post isn't running, bridges aren't getting fixed, and pot holes aren't getting filled. Additionally, since ALL states require federal funding in order to stay solvent, the state workers aren't paid, bridges fixed, and pot holes fill. Additionally, because the state would be insolvent, local government would be hurt. Local police wouldn't be paid, local schools wouldn't operate.

Bottom line, you can say that congress is responsible for the budget, but that only goes as far as if the president agrees to it. If there is not a 2/3 majority he can veto any piece of legislation all day. The problem comes in is that the american people are the pawns in this game. If congress passed legislation that had no monies for anything other then to run the government, the president would veto it, because it has none of his interests in mind.

Just my 2 cents,

Cheers,

Camain

Who opened the flood gates to the Bush apologists?

You shove facts in their face and they suddenly develop acute blindness, don't bother people...

Obama or McCain are going to have some serious economical issues to consider next term.

It's eerily reminiscent of post-WW1 Germany and it's huge war debts that sparked hyperinflation to the point where German marks weren't even worth the paper they were printed on.

Granted it won't be that severe but nevertheless, this insane borrowing spree, especially from China and other "not-so-preoccupied-with-American-interests" nations (hence the ridiculous interest rates) will break the back of the economy.

I think we've reached the point of no return when it comes to a depression, all the ingredients are here:

More and more money backed by less and less tangible assets:


The working-classes giving up, forcing the US to outsource work:


Self explanatory:


Business dropping like flies:


And to anyone who thinks the American banks are recession-proof, take a look at these figures:



No assets. Nothing real. All speculation and hot air.
www.markswatson.com...

America is heading for some tough times indeed.
How anyone can look past the evidence and ignore it beggars belief.

[edit on 29/7/08 by The Godfather of Conspira]

Btw... a few of these images are a tad obtuse, anyone know the BBCode for resizing images?

Any questions?

Any questions?



Again that is th ANUAL budget.......both sides deficit spend.
Clinton years decreasing was mainly do to military cut backs and tax increases.

Again.....The number that should shake your core are the
TOTAL deficits on 1 set of books ~10TRILLION and on the other ~$120 TRILLION.....this debt is owned to mainly Saudi Arabia and China.

You wonder why the US dollar is tanking...............the curtain is being
pulled back and the light is beign shown upon it.

Originally posted by Pinktip
Any questions?

 

Again that is th ANUAL budget.......both sides deficit spend.
Clinton years decreasing was mainly do to military cut backs and tax increases.

Again.....The number that should shake your core are the
TOTAL deficits on 1 set of books ~10TRILLION and on the other ~$120 TRILLION.....this debt is owned to mainly Saudi Arabia and China.

You wonder why the US dollar is tanking...............the curtain is being
pulled back and the light is beign shown upon it.

Pink I understand economics and I know that no one has paid off the debt since Jackson. I know decreases in military and higher taxes was for the shrinking additions on to the deficit but if the government is going to spend the money then we need to pay for it up front instead of putting it on the charge card. The fact is if people had to actually PAY for all the republicans spending the republicans would never get elected again so they lower taxes and print the money or borrow it.

Actually the debt is mainly owed to the UK and Japan with China and Saudi running 3rd and 4th. My point to the image is that there is a misconception that all the spending is done by democrats when in reality its ALL of them.

Once again Any Questions?

Bill Gates could pay off the Debt if he truely cared about people and the U.S.

Sometimes the people have to start taking matters into their own hands to defend what is right.

reply to post by mybigunit Actually the debt is mainly owed to the UK and Japan with China and Saudi running 3rd and 4th. My point to the image is that there is a misconception that all the spending is done by democrats when in reality its ALL of them.



Thanks for that correction!

Just think. if we only drilled more oil 10 years ago, we wouldn't have to pay 300 billion to OPEC.. this whole mess could have been a non issue. But too bad there is the spotted water flurgel fly to worry about. ahh environmentalists... green is the new red

Originally posted by ThirtySecond
Just think. if we only drilled more oil 10 years ago, we wouldn't have to pay 300 billion to OPEC.. this whole mess could have been a non issue. But too bad there is the spotted water flurgel fly to worry about. ahh environmentalists... green is the new red

Ahhh 300 billion is around 3% of the 10 trillion we owe. Thats without the 65 trillion in obligations of SS and Medicade that were pillaged by regan, clinton, bush, bush. Sorry take another sip of the kool aid. This debt comes from War & the military industrial complex plain and simple as that. So everyone keep supporting the 2 party dictatorship so taxes can go to 60 to 70% some day to pay off this mess.



[edit on 29-7-2008 by mybigunit]

I started a thread on this very topic. However I provided reason for cause and a solution...

www.abovetopsecret.com...

funniest thing is "it dont matter who we vote in really for prolly a good 4-8 years" think look how long it took clinton to get our welfare to a record low, and pulll us outta deficit heh. and bush comes in and blows all tbhe money. hes like a coc aine addict gone wild


comon mayne: usa mayne
"not sure on pictures"



note: i dont want to be in any trouble for what i said, i love my president with my heart!

[edit on 29-7-2008 by noone81]

The only way thats payin that debt back is slave labor, otherwise the countrys horrible infrastructure is gonna continue spiraling that debt further in the negative regardless of war efforts...

reply to post by Spock Shock

regardless of war efforts...

The war efforts ARE THE CAUSE of America's record debt deficits.

Have you been paying attention to a word that's being said here?