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alstry (35.99)

Is Government and the Fed going to starve our children?

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August 12, 2009 – Comments (5)

U.S. posts $181 billion budget deficit in July

$181 Billion dollar deficit used to be a lot for a year not too long ago......

Now it is a monthly deficit and likely going to grow.......

My friends, we are now tracking at over a $2 Trillion dollar FEDERAL deficit....not including state and local governments.  This is more than the TOTAL federal budget just a few years ago.

There is simply no way to finance this kind of irresponsible borrowing without restructuring debt.  If we continue to borrow at this rate, it will not be too much longer before we are burdened with a valuless currency and a crashing economy......

Funny how so few want to take responsiblity of the debt of our nation.....pretty soon the irresponsiblity will take you.....and me.

5 Comments – Post Your Own

#1) On August 12, 2009 at 2:52 PM, soowhat (< 20) wrote:

So...then what? 

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#2) On August 12, 2009 at 2:56 PM, alstry (35.99) wrote:

HERE'S WHAT....UNLESS YOU ARE A BANKER OR POLITICIAN.....

var VideoID = "6800"; var Width = 585; var Height = 370;

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#3) On August 12, 2009 at 3:10 PM, soowhat (< 20) wrote:

See you in the bread line then...

 

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#4) On August 12, 2009 at 4:21 PM, alstry (35.99) wrote:

MISH NAILS IT!!!

Prechter is looking for a "major economic depression". I think it is clear we are already in one.

The only reason it is not more readily visible is people are living in foreclosed houses unable or unwilling to pay their mortgage, one in nine living in the US is on food stamps, and unemployment insurance has been extended twice. Congress is now debating extending it a third time.

If Congress does not act
500,000 Will Exhaust Unemployment Benefits by September, 1.5 Million by Year-end.

Although the official unememployment rate is a mere 9.5% alternative measures show it is over 16%. Moreover, an unprecedented 4.4 million workers have been unemployed and looking for work for 26 weeks or longer. Please see
Jobs Contract 19th Straight Month and US Payrolls Less Than Meets The Eye for details about jobs.

In simple terms, more social safety nets are in place now than during the great depression.

http://globaleconomicanalysis.blogspot.com/2009/08/prechter-sees-major-deflationary.html

This is something I have been saying for some time, now with a $2+ trillion dollar deficit, how long can we continue to afford it?

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#5) On August 12, 2009 at 5:29 PM, JerseyShoreGirl (< 20) wrote:

Hyperinflation Nation Pt. 1/3

http://www.youtube.com/watch?v=SzmYI_4XCbM

Hyperinflation Nation Pt. 2/3

http://www.youtube.com/watch?v=vQCCDttLhA4

Hyperinflation Nation Pt. 3/3

http://www.youtube.com/watch?v=rVcyM2Z4Ego

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