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America's fiscal collapse
America's fiscal collapse
Obama's budgetary promises are based on a mammoth austerity program. The entire US fiscal structure has been shattered. Under a balanced budget criterion of the sort which has been a priority of US government economic policy since the Reagan era, almost all the revenues of the federal government amounting to $2.381 trillion would be used to finance the bank bailout (1.45 trillion), the war ($739 billion) and interest payments on the public debt ($164 billion). In other words, no money will be left over for other categories of public expenditure.
http://www.globalresearch.ca/index.php?context=va&aid=12517
Obama's budgetary promises are based on a mammoth austerity program. The entire US fiscal structure has been shattered. Under a balanced budget criterion of the sort which has been a priority of US government economic policy since the Reagan era, almost all the revenues of the federal government amounting to $2.381 trillion would be used to finance the bank bailout (1.45 trillion), the war ($739 billion) and interest payments on the public debt ($164 billion). In other words, no money will be left over for other categories of public expenditure.
http://www.globalresearch.ca/index.php?context=va&aid=12517
Views: 27
Comment
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Comment by Martin on March 9, 2009 at 7:14pm
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This ship is drowning fast and sadly we will all pay for this !!
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Comment by Andy (UK) on March 9, 2009 at 9:59am
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they going down like the titanic
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Comment by Kihanyaking on March 9, 2009 at 2:28am
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Trully screwed, a federal reserve!!
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