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House Passes $3.4T Obama Budget

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posted on Apr, 29 2009 @ 12:52 PM
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House Passes $3.4T Obama Budget


www.cbsnews.com

(AP) Acting with unusual speed, the House on Wednesday adopted a $3.4 trillion budget outline that endorses much of President Barack Obama's ambitious agenda while permitting the national debt to continue to spiral higher.

Not a single Republican voted for the measure; 17 Democrats, mostly from GOP-leaning districts, voted against it.

The Senate will vote on the measure Wednesday afternoon.
(visit the link for the full news article)




posted on Apr, 29 2009 @ 12:52 PM
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With the economy in recession and the bailout of the financial sector costing hundreds of billions of dollars, deficits would rocket to $1.7 trillion for the ongoing budget year, dipping to a still-astonishing $1.2 trillion in 2010. The national debt would rise from today's $11.2 trillion level to $17 trillion at the end of 2014.

"The same Democrats who were outraged over a $455 billion deficit last year came to us this year with a budget that would lead to trillion dollar deficits," said Senate GOP Leader Mitch McConnell of Kentucky.


When will the people learn to never vote for any of the two parties again?

I'm guessing never!

The economy is being treated far worse than a broken toy

www.cbsnews.com
(visit the link for the full news article)



posted on Apr, 29 2009 @ 12:58 PM
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I am not surprised by this. The house has more than enough Democrats to get any piece of legislation they want through. And once, the Senate gets their 60, the Democrats will have all the power to pass any agenda they so desire despite what the Republicans, or Americans, say.



posted on Apr, 29 2009 @ 01:04 PM
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17 trillion..crazy amounts of money..just crazy.I keep asking myself why the american economy hasn't tanked already,no conclusion as of yet.. maybe your banking elites are very very sly and are managing to play the worlds super powers.Or countries couldn't imagine what the world economy would look like with america in the dumps so push it under the rug.



posted on Apr, 29 2009 @ 01:10 PM
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Originally posted by Solomons
17 trillion..crazy amounts of money..just crazy.I keep asking myself why the american economy hasn't tanked already,no conclusion as of yet.


Well think about it

if you inflate a baloon and then pop it halfway it makes a slight sound
however... if you keep maintaining the bubble and keep inflating it and somehow contain it from bursting on it's own and then one day let it pop it will make a massive sound.

hyperinflation is a very efficient way to allow a dictatorship to come into power

Soon the world will never ever be the same again



posted on Apr, 29 2009 @ 01:26 PM
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Perfect timing! Everyone is worried about swine flu and lookie here... giant budget passes. Maybe this is what they are trying to keep us from thinking about?



posted on Apr, 29 2009 @ 01:41 PM
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Dude, I want what DC is smoking- cause they crazy y'all!
This is absolute lunacy in the highest order! A pox on thee!
Rep. Boner was on C-Span this morning going off about how congressional voting cards are like super credit cards and Washington is going on a spending spree- it was funny in a very sad way.
As a mid-20s person, I've really been looking around at older people and thinking, "thanks you idiots." No offense to my ATS elders- it's just a raw feeling and we all know it's the cabal of DC politicians but these sentiments could escalate and perhaps we could end up seeing generational based divisions in society when the S hits the F. I'm already anticipating race-based chaos and class-based chaos but maybe generation chaos as well. This isn't new as many revolutions are the young overthrowing the regimes of their parents-examples- Egypt, Young Turks, modern Iran, etc.

Nevertheless, I'm thinking more and more the baby boomers will proven to have lived the most fruitful and luxurious lives and the standard of living for their children and children's children will only be downhill. The baby boomers are screwed for retirement anyways. Hope it was fun while it lasted!



posted on Apr, 29 2009 @ 01:42 PM
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To spend 17 Tril in 1 year...
17000000000000/365 = $46575342466 Per Day
46575342466/24 = $1940639269 Per Hour
1940639269/60 = $32343987.82 Per Minute
32343987.82/60 = $539066.4637 Per Second

Vote Ron Paul
-E-



posted on Apr, 29 2009 @ 01:44 PM
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It's not like we could expect anything different from these clowns. Come on, they will arm flail and scream and moan, but in the end, they all agree.

More proof that this government is simply a dog and pony show for all to see, and for none to understand.

~Keeper



posted on Apr, 29 2009 @ 01:45 PM
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I'm not paying for this. I really don't give a #. Raise income taxes and the IRS will have a revolution on their hands. They can't obligate us and future generations to pay off foreign debt holders. That is immoral. Where is this money coming from? The printing press, of course. And we have no choice but to pay it back. I can't wait until all these old men in Washington die already. They're so utterly useless.



posted on Apr, 29 2009 @ 01:47 PM
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reply to post by MysterE
 

Good math. I see a "priceless" credit card commercial in the works.
approximately 100 billion stars in our galaxy.
How much do think will ever be printed? My guess- 0%-1%
Can you say controlled economic demolition?

Id also like to second the motion of Ron Paul for president and perhaps suggest all those who voted for McCain or Obama to be prevented from voting until they've come to their senses.



posted on Apr, 29 2009 @ 01:54 PM
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I know we're not supposed to talk drugs anymore but I think Federal Democrats honestly get high on numbers with alot of zeros. It's like heroin to them and they always need more to get the same high until one day.... crash.
Dr. Paul always uses this metaphor



posted on Apr, 29 2009 @ 01:58 PM
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I think all this just proves how much of a house of cards the concept of (fiat) currency really is. Its all just smoke and mirrors and means nothing. 3.4 trillion dollars? Wow, big number. What has changed? Nothing. Everyone is panicking because some numbers that represented a fake amount of wealth started to dip last year.

The next budget they approve will be somewhere like 7 trillion dollars and I still won't care. And all you fearmongers who would just love to jump on my post and tell how apathetic I am and how this is a serious problem can just keep their mouths shut.

The economy is a fake crisis. The genocides in East Timor, Tibet, Rwanda, the Kurd minorities and Assyria, these are real crises.



posted on Apr, 29 2009 @ 02:01 PM
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Originally posted by Estharik
Perfect timing! Everyone is worried about swine flu and lookie here... giant budget passes. Maybe this is what they are trying to keep us from thinking about?




I think you are on to something. the flu has ruled the news, also not much mention of AIG failing or other important current events.

I dont like how any of this is playing out.

We are talking trillions here. I agree with the OP. Hyperinfaltion is next.

We will skip right on by deflation, stagflation and inflation and jump right in to Hyperinfation, before 2010.



posted on Apr, 29 2009 @ 02:04 PM
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reply to post by Tgautier13
 

I agree with your point about fiat currency. I've sat in on lectures from economists lately who've said straight up, in this type of economy its totally sustained just be increasing the number. There are people who believe the national debt can be sustained just by making it bigger and bigger. But I personally favor an Austrian cyclical idea that at some point it crosses a max-point of sustainability and then -kaboom!
It used to be taught in macro101 that the national debt exists but it's never really anything to worry about. no joke.



posted on Apr, 29 2009 @ 02:23 PM
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Population of United States as of July 1, 2008 = 304059724 (www.census.gov)

17000000000000/304059724 =
$55910.07 Amount every American will owe when debt is 17 Tril (not including interest)

Audit the FED
-E-



posted on Apr, 29 2009 @ 02:27 PM
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update on Bill to audit fed


Call your reps!



posted on Apr, 29 2009 @ 02:34 PM
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reply to post by MysterE
 


I don't know what the heck these guys are planning on spending all that money on...besides some more war funds maybe... but I'm not paying back 55k lol. Instead of spending all that on crap we mostly don't need we could get some healthcare or buy everyone a cheap, decent car (NOT a Tata!) This country is going down the drain fast and even if everyone woke up and realized it, there's nothing we could do. I don't think we could at least. No peaceful demonstration is going to solve any problem or change anyone's mind. Any non-peaceful demonstration would be stamped out faster than you can say "What're we spending in this budget?"



posted on Apr, 29 2009 @ 02:35 PM
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What's this?

Bah who cares...I want more info on the swine flu..



posted on Apr, 29 2009 @ 02:46 PM
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reply to post by Estharik
 


Doesn't really seem like were getting our monies worth does it.





"We have gold because we cannot trust governments."
President Herbert Hoover's statement in 1933 to Franklin D. Roosevelt

-E-

[edit on 29-4-2009 by MysterE]



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