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Bernanke Warns on Deficits as Treasury Rates Rise

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posted on Jun, 3 2009 @ 10:00 AM
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Bernanke Warns on Deficits as Treasury Rates Rise


www.cnbc.com

Federal Reserve Chairman Ben Bernanke is urging Congress and the Obama administration to start plotting a strategy to curb record-high U.S. budget deficits.

Failing to do so could eventually erode investor confidence and endanger the economy's prospects for long-term health, he said.

The White House estimates that the government will rack up an unprecedented $1.8 trillion budget deficit this year. That would be more than four times last year's all-time high.

(visit the link for the full news article)


Related News Links:
www.economyincrisis.org
www.cnbc.com




posted on Jun, 3 2009 @ 10:00 AM
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This no surprise we are borrowing our nation to the ground and now the Fed is complaining about it? where are the complains when they were asking to bail out the nation financial institutions.

What a whole bunch of crocks. Now that interest rates are not making any money for the shadow bankers behind the fed they are complaining that the deficits will hinder investors confidence, this people wants to start raising the interest but the economic crisis do not let them do it.

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



posted on Jun, 3 2009 @ 10:04 AM
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After how much time, and the geezer finally listens to ron paul. Ron paul must have a smile on his face today.

America is totally bankrupt, and only corruption is keeping it afloat.



posted on Jun, 3 2009 @ 10:10 AM
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You mean we're spending too much monopoly money? Wow, what a revelation.
If we don't arrest the criminals like Helicopter Ben and make examples out of them we will never get our country back.



posted on Jun, 3 2009 @ 10:11 AM
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No only banckrupt but the individual states are going bankrupt as well, California is just the beginning, because the are making most of the fuss we have not seen how bad the rest of the states actually are.

Bernanke we are not even in the middle of the fiscal year and the deficit has increased to 1.8 trillion dollars.

that is because another trillion was added to month to help small business in another bail out.



posted on Jun, 3 2009 @ 10:14 AM
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Some Perspective...

1.8 Trillion dollars is the equivalent of designing and building about 1,800 brand new sports complexes - complete with food courts, parking lots, color scoreboard, and box seats.

1.8 trillion dollars is, in $20 bills, about 99,208 TONS of money.

1.8 trillion dollars is enough to build 600 Freedom Towers. Why doesn't your state have at least 10?

1.8 trillion dollars is equivalent to about 57,574 TONS of gold.

1.8 trillion dollars is enough to rebuild the entire Eisenhower Highway system 3 times with 300 billion to spare.

Jon



posted on Jun, 3 2009 @ 11:21 AM
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I was watching Bernake's testimony to the House Budget Committee today on MSNBC when mysteriously the live feed was cut for about a minute just as Rep Hensarling was asking some very tough questions about the handling of the propaganda related to China. I started a thread immediately when this happened because this Rep was asking the very questions I want to know the answers to. The thread is here: MSNBC cuts live feed of Bernake testimony? He had just said that we were forecasting between 50% and 82% debt to GDP. 82%???!!!!!!!!

[edit on 3/6/2009 by Iamonlyhuman]



posted on Jun, 3 2009 @ 11:44 AM
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I think the house of cards is VERY close to falling.

The only thing keeping it up is an active denial campaign by the PTB and the sheeple.



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