Thursday, July 15, 2010

America Plunging to Bankruptcy While DC Plays Politics as Usual

Eric Blair
Activist Post 

More deficit uproar is coming out this week to reveal the quickening pace of the planned implosion of the U.S. economy while politicians wear out the same old arguments. The AP reported Tuesday that the Federal budget gap topped $1 trillion through June with the sub-headline amid GOP resistance to more gov't spending, which went on to state:
The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government's finances.
In its monthly budget report, the Treasury Department said Tuesday that through the first nine months of this budget year, the deficit totals $1 trillion. That's down 7.6 percent from the $1.09 trillion deficit run up during the same period a year ago.
Worries about the size of the deficit have created political problems for the Obama administration. Congressional Republicans and moderate Democrats have blocked more spending on job creation and other efforts. Republicans also have held up legislation to extend unemployment benefits for the long-term jobless because of its effect on the deficit.
This story comes on the heels of the IMF pressuring the U.S. to reduce debt and China's top credit rating firm downgraded the United States and other western countries. The deficit panic mode is ramping up the rerun political show as fiscal conservatives echo the age-old mantra “cut taxes and spending” while the progressives pretend to be for the little guy and demand more public spending.  However, every economist (and central banker) worth their salt knows that when the money supply contracts the economy goes into a depression, while expanding the money supply to the consumer class stimulates economic growth.

Incidentally, cutting taxes for the consumer and small business class will add money supply to the real economy, as will targeted spending programs on the least among us who must use those funds to consume.  Both political parties are selling partial truths to the public based on their ingrained manufactured principles.  Sadly, the Federal Reserve, the U.S. Treasury, and Cartel of private banks designed the system so that the money must funnel through them first, and thus they will decide how and when to inject it into the economy.  To America’s demise, they’ve done nothing with this money but hoard, consolidate, and front-run for their own gain. Today, JP Morgan reported a 76% increase in profits for their second record-breaking quarter in a row while the real economy sputters to destruction.  In other words, the banksters are looting and raping while the poorest and neediest Americans continue to suffer.  Dylan Ratigan clearly and angrily explains the situation to Congressman Brady below:

The AP article, using the boilerplate mainstream answer, vaguely explains where all the money went:
The deficits have been driven higher by the lingering effects of the worst recession since the 1930s. About one-third of the higher deficits in this period are a result of a drop in government tax revenues.
The other two-thirds of the deficit increases reflect higher government spending to stabilize the financial system with the $700 billion bailout program and the $787 billion stimulus program that Congress passed in February 2009. The increased spending also reflected added demands for such programs as unemployment benefits and food stamps.
Through all this you may be asking yourself, since when did any politician really care about the deficit?  Sure, some of them talk tough, but when it comes down to brass tacks, they all spend like it’s copper.  Congress seems to always find the money for the criminal financial system, the unending unjustified wars, billions in foreign aid to unsavory “allies," billions more in subsidies to foolishly profitable oil companies or GMO giants, and of course plenty of funds to further track, trace, and database the “Perfect Citizens.”  These programs, by design, don’t seem to leave much left for programs that actually benefit the taxpayer directly.  In fact, it seems like our government chooses to fund programs that do nothing but harm and imprison the average taxpayers who fund them.

The depression-by-design is moving forward and the looting is continuing as planned.  The one wild card is whether or not the controllers will keep giving the peasants enough crumbs so they don’t revolt, or if they indeed want and expect a revolt.

I’m reminded of Grover Norquist’s famous quote outlining the demolition by design, "Our goal is to shrink government to the size where we can drown it in a bathtub."   Well, the Neo-con architects obviously grew government by leaps and bounds, in addition to the explosion of the use of private government contractors, which has only been expanded under Obama.  Perhaps what Norquist really meant was they wanted to “reduce and weaken America” so that this small group can kill her completely.  

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robertsgt40 said...

Anybody see a patern here? If I were a betting man, I'd say the US is next in line for "austerity measures" dictated by the IMF. The longer we wait to dislodge the parastic banksters the greater chance the host does not survive.

silversword said...

" History records that the money changers have used every form of Abuse,Deceit,intrigue and violent means possible to maintain their control over Governments by controlling money and its issuance."
President James Madison

Activist said...

Great Comments! Bankers pull the strings. We must not let petty political bickering distract us from that.

tctctctc4 said...

AMERICA, just say, "NO!" It's not our debt, its massive 'derivative' fraud by design. The Bankers created the problem, let them live with it! Our US politicians need to be stopped with TOTAL non-private campaign reform. VOTE THEM ALL OUT!

Old Uncle Dave said...

Capital must protect itself in every way... Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
- J.P. Morgan

poorsingledad said...

In the struggle to establish an adequate world government, the teacher has many parts to play... He can do much to prepare the hearts and minds of children for global understanding and cooperation...At the very top of all the agencies which will assure the coming of world government must stand the school, the teacher, and the organized profession. -- National Education Association Journal, 1946

poorsingledad said...


The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and to secret proceedings. We decided long ago that the dangers of excessive and unwarranted concealment of pertinent facts far outweighed the dangers which are cited to justify it. Even today, there is little value in opposing the threat of a closed society by imitating its arbitrary restrictions. Even today, there is little value in insuring the survival of our nation if our traditions do not survive with it. And there is very grave danger that an announced need for increased security will be seized upon by those anxious to expand its meaning to the very limits of official censorship and concealment. That I do not intend to permit to the extent that it’s in my control. And no official of my Administration, whether his rank is high or low, civilian or military, should interpret my words here tonight as an excuse to censor the news, to stifle dissent, to cover up our mistakes or to withhold from the press and the public the facts they deserve to know.

But I do ask every publisher, every editor, and every newsman in the nation to reexamine his own standards, and to recognize the nature of our country's peril. In time of war, the government and the press have customarily joined in an effort based largely on self-discipline, to prevent unauthorized disclosures to the enemy. In times of "clear and present danger," the courts have held that even the privileged rights of the First Amendment must yield to the public's need for national security.

Michelle Thornton said...

This is all very true. The United States' debt problem is getting very out of hand. It was good to read this post and hear another's opinion on the matter. So, I have to take responsibility for my Larimer County bankruptcy, but the country doesn't seem to have to take care of theirs.

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