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Originally posted by adifferentbreed
I still find it amazing they throw around the word trillion like they used to use a million. OMG that is alot of money, and as always no way to track even most of it.............
Originally posted by tothetenthpower
You guys are getting screwed...hard.
There was speculation that bankers could bring a test case in European Court of Human Rights to appeal against the punitive tax.
To prevent bankers from finding ways around the tax, the Chancellor has introduced anti-avoidance measures with immediate effect. Under the measures, all share-based payments and temporary salary increases will be caught.
However, the HMRC notes designed to explain the scope of the measure have caused widespread confusion and debate. According to the notes, banks, building societies and all the businesses attached to these groups in the UK are effected. More than 100 banks and building societies are expected to be caught but insurance, hedge funds, private equity firms and brokers will escape the crackdown.
Republicans decried what they called out-of control spending and pointed to an estimated $3.9 billion in the bill for more than 5,000 local projects sought by individual lawmakers from both parties.
The Citizens Against Government Waste said those projects included construction of a county farmer's market in Kentucky, renovation of a historic theater in New York and restoration of a mill in Rhode Island.
With the increased spending and more red ink provoking new congressional alarm, a group of Democratic deficit hawks was insisting that Congress and the White House agree to new efforts to rein in the deficit or they would block a large increase in the debt limit.
Failure to increase the $12.1 trillion debt limit to cover federal borrowing could lead to a technical government default. As a result, the White House is eager to get some breathing room on the debt by the end of the year, giving lawmakers worried about deficit spending added power.
Originally posted by jibeho
The spending is out of control and it has actually reached a point where I think that the big spenders on the Hill truly believe that they are just playing a game with monopoly money.
Originally posted by December_Rain
reply to post by Walkswithfish
One cannot build back the economy from thin air, spending has to be done in order to repair the breakdown. If you find why all this money is being spent you will find in the end it's due to policies started by Bush and now to correct them money will have to be spend. If you don't spend money to correct it the same flawed structure will continue, it is as simple as that.